Agent commissions drop
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Real estate commissions have fallen a bit since March, after the announcement of a landmark settlement that could reshape the housing market, Axios' Emily Peck reports.
Why it matters: This is just the start. In less than two weeks, new rules regarding commissions are set to take effect, and fees are expected to fall further.
The big picture: Commission rates have been declining (slowly) for decades, as buyers have gotten savvier about asking for deals and technology has demystified home shopping.
By the numbers: The average buyer agent commission fell to 2.55% in July, from 2.62% at the beginning of the year, according to an analysis from Redfin of the 50 most populous metro areas in the U.S.
Reality check: Homebuyers might be able to save at the margins on commissions after the change goes into effect, but high house prices (and mortgage rates) are likely a bigger hurdle to clear.