The NAR settlement could slash home prices for many Americans

The US housing market is set for a remodel as the National Association of Realtors (NAR) announced a $418 million settlement with homesellers’ groups. If approved by a judge, the settlement will eliminate the standard 6% commission paid by sellers, potentially leading to lower home prices. However, the process will take time, with a judge’s approval and the implementation of new rules still required. The NAR declined to comment on the impact on home prices, but the settlement could potentially bring down prices and curb inflation caused by rising housing costs.