A new report from the Consumer Federation of America (CFA), in collaboration with the National Urban League (NUL) examines the aftermath of the 2024 National Association of Realtors (NAR) $418 million settlement.

Consumers initially expressed hope that the  NAR settlement would address long-standing frustrations over cost and transparency when buying and selling a home, but the report finds that Realtor commissions have not significantly fallen, first-time homebuyers continue to face broader affordability challenges, and “pocket listings,” an anti-competitive real estate practice in which homes are privately marketed to a select group of agents and buyers instead of being publicly listed, are an emerging threat to fair access and transparency in the housing market. 

The survey instrument, anonymized data, and code to replicate all figures and findings are available on the Consumer Federation of America’s GitHub