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NAR

Performance Property Real Estate Question

Realtor Settlement Facts, Myths, Winners & Losers

Q: Who do you think are the winners and losers from the recent class action realtor settlement that everyone is talking about now? Doug, Westfield, NJ A: The National Association of REALTORS® (NAR) recently announced an agreement that would end litigation of claims brought on behalf of home sellers related to broker commissions. However, the only thing on the table right now is a proposal and the proposed settlement may not be finalized until the end of this year or next year so it’s too early to know for sure what the final result will be. Most of the articles I’ve read regarding the proposed settlement are inaccurate or misleading. For example, I’ve read many articles that state that the […]

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Performance Property Real Estate Question

How Many More Homes Do We Need To Meet Current Demand

Q: Gerald, you’ve said many times that home prices keep rising because housing inventory is so low. How many more homes do we need to meet current housing demand? Ezra, Old Tappan, NJ A: Median existing US home prices are up a mind-blowing 19% due in large measure to housing shortages. In a recent NAR (National Association of Realtors) study, the housing shortage we face now is about 5.5 million housing units! There are about 140 million total housing units in the US so 5.5 million is a sizable shortage. The study shows that the shortages exist in all categories of residential housing. The 5.5 million unit housing deficit includes a 2 million shortage of single family homes, a 1 […]

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