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...That is equal to almost $23,000 for the median existing US home price of $379,100....
...The deals with plaintiffs are likely to reshape business practices that have frozen most sales commissions at close to 6 per cent of a home’s price....
...The standard commission, 5 to 6 per cent of the purchase price, is split between the seller’s agent and the buyer’s agent. It is one of the world’s highest. But a long overdue shakeout is looming....
...Yet home prices have continued to appreciate, with the median home sales price rising 4.8 per cent in March to $393,500....
...At the median selling price for US homes of $431,000 in the third quarter, the typical commission would be about $26,000....
...The median existing home price in February was $384,500, up 5.7 per cent year on year....
...Berkshire Hathaway Energy, which owns the HomesServices of America property broker, was added as a defendant in a lawsuit alleging estate agents engaged in price-fixing and broke the law by requiring home...
...The case was brought by Michael Ketchmark, the attorney who last year won a $1.8bn verdict against the National Association of Realtors and brokers including HomeServices over commissions paid by Missouri...
...That, plus the realtor settlement, should draw more houses into the market by making it more affordable for existing homeowners to contemplate a move....
...But Tom Bill, head of UK residential research at Knight Frank, said he expected demand would “get stronger as inflation [came] under control” and forecast house prices would rise by 3 per cent this year....
...Google the address equivalent of “house prices in Downing Street, London SW1A” and several years’ worth of sales should come up, though not all do....
...In the FT over the weekend, Alexandra White wrote about signs that consumers’ ability to absorb price increases might be at an end....
...The verdict on Tuesday against the National Association of Realtors, which represents 1.5mn agents, and market leaders including several Berkshire Hathaway subsidiaries and Keller Williams Realty, came at...
...The chain has opened 27 new stores this year and has begun collaborations with celebrities such as singer Rita Ora to attract more customers....
...Rita Dingwall, business development manager for the Federation of Independent Veterinary Practices (FIVP) said that while PE firms brought an increased focus on cost-cutting measures, they had also prioritised...
...Existing home prices increased for the third straight month as housing supply continued to be squeezed....
...Local realtor Larissa Petrovic McHugh says that cheaper prices in the Upper East Side, when compared with neighbourhoods such as Greenwich Village, SoHo or Tribeca, have been instrumental in attracting young...
...Here’s a chart from the National Association of Realtors: The total sales number conceals variations at different price levels....
...In January, the annualised rate of second-hand home sales hit 4mn, 38 per cent lower than in January 2022, according to the National Association of Realtors....
...While the exact price of a made-to-order gown varies, the most expensive custom gowns start at more than £100,000 and can go up towards the millions....
...Still, total sales topped $2bn last year, with the average price just shy of $10mn....
...prices....
...At the end of June, the National Association of Realtors said the US had about 3.1 months....
...The industry had then benefited from the drop in lumber prices, which hit an all-time high in 2021 during the pandemic. But lumber prices bottomed earlier this year....
...This has a larger effect on supply and prices than other factors like “mortgage lock-in”....
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