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Real Estate Agents Weigh in on Impact of NAR Settlement

Appraisal Buzz

Commissions trended slightly lower following the National Association of Realtors (NAR) settlement , dropping from an average of 2.42% in March to 2.35% in August, when the new changes went into effect. Buyer’s agent commissions have fallen 17 basis points since January 2023, when they averaged 2.51%.

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Low-income owners’ home values have increased by 75% since 2012

Housing Wire

Between 2012 and 2022, the nationwide median value of homes owned by low-income households (households earning no more than 80% of metro area’s median income) rose 75%, or $98,910. Middle-income homeowners in Ogden recorded the largest wealth gain among all metros for their income bracket, gaining $220,000 in wealth from 2012 to 2022.

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Price Adjustments and the 2024 Market

Lamacchia Realty

Inventory began to rise in mid-2022 and again many assumed that inventory would continue to rise, but with rates skyrocketing, the opposite started to happen, around the same time the absorption rate started rising in late spring/early summer. Source: Altos Research Inventory is rising from the depths of 2022 and 2023, yes.

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March 2022 South Florida Housing Report

Lamacchia Realty

The Lamacchia Realty South Florida Housing Report presents overall home sale statistics and highlights the average sale prices for single families, condominiums/townhomes in Broward County, Miami-Dade County, and Palm Beach County for March 2022 compared to March 2021. Data provided by Florida Realtors® SunStats. Additional Resources.

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Price Adjustments and the 2023 Market

Lamacchia Realty

PRICE ADJUSTMENTS AND THE 2023 MARKET In March 2022, it was clear that the market was changing from a frenzied post-pandemic scene to one where it was assumed that rising mortgage rates would slow it down and help inventory finally rise back up. 2018 and 2019 depict the paths of what was a ‘typical’ market prior to the pandemic.

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April 2022 South Florida Housing Report

Lamacchia Realty

The Lamacchia Realty South Florida Housing Report presents overall home sale statistics and highlights the average sale prices for single families, condominiums/townhomes in Broward County, Miami-Dade County, and Palm Beach County for April 2022 compared to April 2021. Data provided by Florida Realtors® SunStats. Additional Resources.

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Price Adjustments in Florida Rise Rapidly

Lamacchia Realty

In the chart below, the trend depicts that inventory in all three South Florida counties (Palm Beach, Miami-Dade, and Broward) has been rising since April of 2022. An experienced REALTOR® will make it very clear from the beginning that pricing right is the key to selling faster and for more money.