Industry News: Housing Prices in Florida/Texas, US Court Approves Antitrust Settlements, & Home Alone House For Sale - TLP027

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In this episode, host Ryan Glick and industry expert Charles Covey dive into the latest trends shaping the housing market. They begin with a discussion on an article from Fox Business highlighting Redfin CEO Glenn Kelman's prediction that housing prices in Florida and Texas will become more affordable.

Charles brings attention to a surprising statistic: 32% of home buyers paid cash in January, the highest rate since 2014. He explores the reasons behind this surge, such as people selling homes in high-priced areas like California and purchasing more affordable properties in states like Texas and Florida. The conversation also touches on the differences between new and existing home markets, emphasizing how builders can influence interest rates through buy-downs.

Next, they tackle a recent legal development: the approval of a $208 million settlement in a class-action lawsuit against major real estate brokerages. They analyze the potential implications of this decision on real estate commissions and the overall market. While some expect significant changes, Ryan and Charles discuss why they believe the impact might be more modest, focusing on the practical costs of transactions and the possibility of buyers paying their agents directly.

To wrap up, they share a nostalgic story about the iconic Home Alone house in Chicago hitting the market. With a listing price of $5.25 million, this famous property has undergone significant renovations, transforming it into a modern luxury home. Ryan and Charles reminisce about their favorite scenes from the movie and discuss how the updates have changed the look and feel of the house.

All links to the articles discussed during this episode can be found on the show notes page: https://letsgroov.com/podcast/industry-news-housing-prices-in-florida-texas-us-court-approves-antitrust-settlements-home-alone-house-for-sale.