In this consumer focused conversation, Matt Hudson and Mike Aden (Employing Broker at Colorado Home Realty) discuss the proposed settlement of the 6 year class-action lawsuit which, amongst other things claims that the National Association of Realtors (NAR) is complicit in required practices by members that contributed to price fixing.

Mike and Matt discuss the terms of the settlement, the timeframe for implementation, the 2 primary characteristics of the settlement that will impact the industry and the ripple affect these changes will have on consumers.

This is one of the biggest industry changes in American industry history and impacts every homeowner and prospective homeowner. Know that your CHR agent is highly informed and can walk you through exactly what these proposed changes will mean for you.

The January Producer Price Index inflation report released in February effectively eliminated the Federal Reserve from beginning the decline of banking rates this spring, which caused a market reaction that drove mortgage rates higher.

This upward movement of mortgage rates has tempered buyer activity year to date, but we still see real estate prices rising on healthy demand. But the market is finicky right now, with some areas red hot and other areas unpredictably slow. We call this hyper-local real estate and as a buyer or seller, it is important to understand.

Many households may soon have a decision to make if prices continue to rise. Get a second job, or change lifestyle. Credit card debt in America now stands at $1.1 trillion with an average interest rate of 24% and auto loan debt is now $1.6 trillion with defaults and late payments on the rise. This may drive change to the housing market as some homeowners may choose to sell in order to payoff debts from past spending habits.

The Colorado Real Estate market seems to be playing out as we predicted.  However, the US economy and in particular the jobs market is showing more robust signs than most expected.  US GDP growth expectations far outweighs any signs of recession and the byproduct is the Federal Reserve pausing on lowering interest rates due to persistent inflation concerns.  

Long story short, this is creating even more volitility for mortgage rates than anticipated and the question remains, what impact will this have on real estate locally and nationally.  

Matt and Adam rapid fire the answers in this episode.