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Typical homebuyers made $107,000 annually, used a real estate agent in 2023: NAR survey

Housing Wire

Homebuyers’ median household income increased by $19,000 this year from 2022, reaching $107,000, according to the National Association of Realtors ’ 2023 Profile of Homebuyers and Sellers. The report is an annual survey of homebuyers and sellers who closed transactions between July 2022 and June 2023.

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Opinion: Here’s what people are getting wrong about real estate commissions

Housing Wire

I recently read editorials and articles by such esteemed publications as The Economist , Entrepreneur Magazine , and The Wall Street Journal concerning the antitrust real estate commission lawsuits. by 1% to 2% just by cutting the commission paid to buyer’s agents.” Aggregate data from the housing market would confirm this.

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Consumer advocacy group: Buyer agency agreements often contain “unfair” terms

Housing Wire

As brokerages across the country have begun implementing buyer agency contracts into their business practices in the wake of the Sitzer/Burnett commission lawsuit verdict, the Consumer Federation of America is warning consumers that they may be filled with “unfair provisions” that primarily protect agents and brokers.

Buyers 389
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Nations Lending, Carpenter Realtors launch Commitment Mortgage

Housing Wire

Full-service mortgage lender Nations Lending and local Indiana real estate firm Carpenter Realtors launched a joint venture, Commitment Mortgage , in order to offer an end-to-end experience — from finding a home to closing a loan in a cooled-down housing market. “We trillion in 2022, down from the previous year’s $4.4

Lending 347
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eXP’s Glenn Sanford is “concerned” about the commission lawsuit’s impact on buyers

Housing Wire

I actually started out as a buyer’s agent myself… and I see buyer’s agency as being a very valuable tool for buyers,” Sanford said during the Q&A session. I’m concerned, quite frankly, about what this might mean to buyers who may not be able to afford representation if things change up too much.” million to $14.90

Buyers 381
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New (and unusual) commission lawsuit alleges collusion in Sin City

Housing Wire

The latest copycat commission lawsuit alleges that real estate industry players in Nevada have colluded to artificially inflate real estate agent commissions. District Court in Las Vegas by Nathaniel Whaley, who sold a home in Las Vegas in April 2022 and paid a buyer broker commission.

Realtors 438
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Opinion: Here’s the latest data on what Realtors are witnessing in the housing market

Housing Wire

The real estate market has shifted, and we are in a new housing paradigm. It is always good to know where we are with the real estate market, but it is essential to keep all data in historical perspective. . One way to understand the competitiveness of the market is to look at buyers who are waiving contingencies.

Realtors 395