Supreme Court Declines to Review NAR’s Appeal, SoCal Faces Housing Crisis, and Move-In-Ready Homes Top Buyers’ 2025 Priorities

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Supreme Court Declines to Review NAR’s Appeal

The U.S. Supreme Court has declined to hear the National Association of Realtors®’ appeal regarding the Department of Justice’s ongoing investigation into its practices. This ruling effectively upholds the April 2024 decision by the U.S. Court of Appeals, allowing the DOJ’s probe to continue.

The legal battle began in 2018, when the DOJ launched an investigation into NAR’s now-defunct Participation Rule and its Clear Cooperation Policy. A settlement was reached in 2020, but the DOJ withdrew the agreement in 2021, claiming that the terms of the deal prevented a full investigation. NAR had contested this, arguing that the DOJ’s decision to reopen the probe violated the original settlement.

With the Supreme Court’s denial of NAR’s petition, the appeals court ruling stands, permitting the investigation to move forward.

In response to the decision, a spokesperson for NAR said, “We remain committed to taking every possible step to fight for the interests of our members and the consumers they serve.

Source: Link

SoCal Faces Housing Crisis

Thousands of families displaced by devastating fires in Pacific Palisades and Altadena are now facing a fierce battle for housing in an already tight real estate market. Local agents say demand is skyrocketing, with some families offering a year’s rent upfront in cash, even engaging in bidding wars for available rentals.

David Berg, a Compass real estate agent, says his phone has been flooded with calls since Tuesday, as dozens of families scramble to find homes. In just one hour, a newly listed home in Brentwood saw over 10,000 views. “Dozens and dozens of people are going after the same properties,” Berg said.

With many families desperate for stability, even higher rental prices haven’t deterred them. Listings in nearby areas like Beverly Hills, Venice, and Santa Monica are renting quickly, often above asking prices. And for some, buying may be the only option. Insurance stipends are leading some victims to consider purchasing homes, as rebuilding their own could take years.

Despite state laws to curb price gouging, some landlords are raising rents by up to 28%, prompting concerns over ethics and enforcement of new regulations. 

If you are looking for ways you can support victims, you can donate to the California Association of Realtors® Disaster Relief Fund or donate to the Red Cross. 

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Move-In-Ready Homes Top Buyers’ 2025 Priorities

In a new survey released by Bright MLS, prospective homebuyers have made one thing clear: they’re not interested in fixer-uppers. More than half of respondents said finding a move-in-ready home is their top priority, with 56% ranking the condition of the home as “very important.” In the face of high prices and limited inventory, buyers are willing to compromise on home size and location, but not on move-in condition.

The survey, which gathered responses from nearly 700 renters and non-homeowners across the U.S., found that features like a garage, a primary en-suite, and a sufficient number of bedrooms were key priorities for many. Proximity to work also ranked high, while luxury upgrades like gourmet kitchens ranked lower.

When it comes to securing a down payment, nearly 80% of buyers plan to tap into savings to cover the cost. Many are also considering smaller homes or even two-unit properties to make homeownership more affordable.

As the housing market braces for another challenging year, these findings suggest that buyers are prioritizing convenience and practicality in 2025.

For more details, visit BrightMLS.com.

Source: Link

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