Following the groundbreaking agreement between the National Association of Realtors (NAR) and the Department of Justice on March 15, 2024, the real estate sector is abuzz with discussions about the potential effects on the future of commercial co-broker fees and payment methods.
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.
According to the National Association of Realtors, pending U.S. home sales in February 2024 grew 1.6% month-over-month from January 2024. The Midwest and South posted monthly gains in transactions while the Northeast and West recorded losses. All four U.S. regions registered year-over-year decreases.
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.