Pending Sales Surge—But sales stall again!?

This week, we explore the major shifts and controversies shaping the real estate industry. We kick things off with NAR’s Clear Cooperation policy under attack—some agents claim it’s giving big brokerages a competitive edge, while others say dismantling it could harm both agents and consumers. One local association is outright rejecting the policy, intensifying the debate. Meanwhile, a survey reveals that 55% of agents now see MLS value declining post-NAR settlement, raising concerns about the future of cooperation in the market. We also dive into Side’s legal battle with the Alexander brothers over alleged contract breaches. On the market front, mortgage demand dropped 17% this week as rates hit their highest point since August, leaving buyers on edge. Interestingly, nearly 25% of first-time homebuyers plan to delay purchases until after the election, adding more uncertainty to an already tense market. We’ll also look at a new survey showing that 42% of homeowners favor Trump for maintaining home values, while 35% believe Kamala Harris would do better. Meanwhile, renters are almost twice as likely as homeowners to say housing affordability will affect their vote—what will this mean for the upcoming election? Despite warmer-than-expected inflation, mortgage rates are unlikely to drop significantly. Yet, there’s good news: Pending home sales posted their biggest jump since 2021, signaling renewed buyer activity. Join us today at 10 PST / 1 EST for a deep dive into these critical stories. Subscribe, hit the bell for notifications, and join the conversation live on Clubhouse! ______________________________ 💬 Join the tWiRE Community: https://chat.whatsapp.com/B5WWEafN3IV... ______________________________ ___________________ THE RUNDOWN ___________________ 0:00 - Intro & much maligned banter. 4:26 - In a World Without Clear Cooperation, Big Brokers Win, Agents and Consumers Lose 5:45 - Why One Local Association is Rejecting NAR’s Clear Cooperation Rule 9:14 - 55% of Agents See MLS Value Dropping after NAR Settlement 22:24 - Side sues embattled Alexander brothers, citing breach of contract 25:28 - To Cumulative Or Not To Cumulative, The Pacaso Story 30:48 - Weekly mortgage demand tanks 17%, after interest rates hit the highest level since August 31:45 - Nearly A Quarter of Prospective First-Time Homebuyers are Holding Off Until After the Election: Redfin Survey 36:30 - 42% of Homeowners Believe Trump Would Be Best For Keeping Home Values High, While 35% Believe Harris Would Be Best 44:12 - Renters Are Nearly Twice as Likely as Homeowners to Say Housing Affordability Impacts Their Pick for President: Survey 46:11 - Mortgage Rates Won’t Budge Much After Warmer-Than-Expected CPI Report 47:55 - Pending Home Sales Post Biggest Increase Since 2021 __________________________ -- SOURCED ARTICLES -- __________________________ https://www.redfin.com/news/in-a-worl... https://nowbam.com/why-one-local-asso... https://nowbam.com/55-of-agents-see-m... https://www.inman.com/2024/10/15/side... https://www.mikedp.com/articles/2024/... https://www.cnbc.com/2024/10/16/weekl... https://www.redfin.com/news/homebuyin... https://www.redfin.com/news/survey-pr... https://www.redfin.com/news/renters-v... https://www.redfin.com/news/september... https://www.redfin.com/news/housing-m...