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The Impact of Commissions on Home Sales in Greater Boston

American Economic Review 2010 100(2), 475-479 open access
Buying or selling a residential property is one of the most important financial decisions for a large majority of households in the United States. In 2007, 68 percent of households owned their own home, more than a third of national wealth was held in residential real estate, and there were 6.4 million sales of existing homes according to estimates from the Department of Housing and Urban Development.