Compass is the latest brokerage to settle after the recent NAR lawsuit made sweeping changes to agent commission payments. With NAR, Keller Williams, Compass, and more associations and brokerages paying out massive settlement fees and rewriting their agent agreements, could we be on the cusp of even more lawsuits to come? We’re breaking it all down in this week’s On the Market headlines episodes!
First, we’ll discuss what happened in the Fed meeting last week and whether interest rate cuts could still be coming down the line in 2024. Unsurprisingly, the Fed has forecasted even stronger economic growth than expected, but will this hold rates where they are? Next, Compass pays $57.5 million to settle their antitrust lawsuit, but even with this week’s news and last week’s NAR settlement, many top agents aren’t seeing much of a change in demand.
Redfin reports on a sizable bump in housing inventory, with the “biggest increase in nearly a year,” as more homes for sale begin hitting the market. This is great news for the housing market, but will it start to slow down sales? Finally, we discuss how much you have to make to afford a $500K home and how affordability struggles could keep many Americans renting for much longer than they anticipated.
Dave:
Hey everyone. Welcome to On The Market. Today we’re going to be running through some of the most important newsworthy stories impacting the world of real estate investing. We’re going to be talking about the recent Federal Reserve meeting and some nuggets of information that they’ve been sprinkling out there for us to interpret. We’ll have an update on the antitrust lawsuits impacting major brokerages and the National Association of Realtors, and we’ll talk about an increase in housing market supply. To help me with this, we have James, Henry and Kathy as usual, so let’s get into it. Alright, our first headline today is their five main takeaways from the Federal Reserve meeting. You’re probably…