On The Market
Home Sales Rise, Investor Purchases Shrink, and ANOTHER Commission Lawsuit!?
Dec 5, 2024
Home sales are experiencing a surge post-election, driven by eager buyers rather than investors. Investor purchases are shrinking for reasons that remain a mystery. The looming threat of another lawsuit over real estate agent commissions raises questions about the future of the industry. Concerns grow over a potential Zillow monopoly, challenging the role of traditional realtors. Listeners learn essential strategies to navigate high interest rates while still finding real estate opportunities.
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Quick takeaways
- Home sales rose by 12.1% year-over-year post-election, reflecting increased consumer confidence and a surge in mortgage applications.
- Concerns over real estate agent commissions are intensifying as the Department of Justice questions the future of fee structures and settlements.
Deep dives
Post-Election Market Surge
Pending home sales in the U.S. experienced a notable increase of 12.1% year-over-year following the recent election, indicating a surge in market confidence. This rise comes after a period of stagnation where inventory was high and showings were low, reflecting consumer hesitance leading up to the election. Mortgage applications also saw a significant uptick, suggesting that buyers who had been waiting for election results now feel more empowered to enter the market. Overall, the data instills a sense of cautious optimism that home sales may continue to rise if consumer sentiment remains stable.
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