T
he dust has settled on the National Association of Realtors' agreement to settle a class action lawsuit and implement new procedures. One key change: buyers will now have written agreements with their agents, specifying payment for representation. This shift raised concerns about how agents would adapt and whether prices would fall.

    However, initial results suggest business is carrying on as usual for many buyers. While some may be unaware of the changes or hesitant to enter into contracts, most seem to understand the process and are willing to work with their agents.

    Looking at September numbers in Folsom, we see a slight decline in closed sales, but pending sales are up from last year. This indicates that people are still buying, albeit perhaps with more caution.

    The average sale price in Folsom dropped by $2,000 from the previous year to $801k. Inventory is also up, with 25 more homes on the market than a year ago. Yet, there are only 88 resale homes available for sale in Folsom.

    For now, it appears that the real estate industry is navigating these changes without major disruptions. Buyers and sellers continue to move forward, and agents remain in business. This is certainly a positive development.