In March 2024, housing starts declined by 14.7% to a seasonally adjusted annual rate of 1.32 million units, influenced by higher-than-anticipated interest rates and persistent inflation, as reported by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
According to recent data from national property broker Redfin, a significant portion of U.S. homebuyers are in the dark about their real estate agent's compensation: 28% are unaware of the payment amount, 17% do not know how this figure was determined, and 19% are uncertain about who actually pays their agent.
This week's increase in U.S. mortgage rates has added to the skepticism about any significant reductions in interest rates for prospective homebuyers in the near future.
Based on a press release March 15, 2024, the National Association of Realtors reached an agreement that would end litigation of claims brought on behalf of home sellers related to broker commissions.