Design News Roundup: Brooklyn Museum Clearing-Out Sale, Real Estate Market Upheaval, and More

This week in design, a treasure-filled clearing-out sale is set to debut at the Brooklyn Museum, offering more than 200 furnishings and the contents of four period rooms spanning the 17th to 20th centuries. In other news:

Business News

The National Association of Realtors has reached a settlement over claims of imposing excessive fees on homesellers, agreeing to pay $418 million in damages and eliminate its rule on commissions. This could significantly impact the U.S. real estate market, where sellers currently pay almost 6 percent in commissions. The Biden administration has finalized a ban on the only remaining type of asbestos used in the U.S., while Nebraska has established regulations for the interior design profession.

Real Estate Market Shift

Austin’s housing market has seen a sharp decline, with home prices falling more than 11 percent since their peak in 2020. Landlords are offering incentives to fill luxury apartments, reflecting a changing trend in migration patterns amidst overbuilding and affordability issues.

Industry Updates

Watson’s has acquired Recreational Warehouse, Dorel Industries has laid off 40 employees, and Meghan Markle has launched a lifestyle brand called American Riviera Orchard. Montreal-based Dorel Industries cites macroeconomic strain as the reason for the job cuts due to declining furniture sales.

Launches & Collaborations

The Sill has expanded into outdoor plants and gardening products, Louis Poulsen collaborates with Home in Heven on a lighting collection, Desenio debuts the Imagine Collection of AI-generated art prints, and Muriel Brandolini launches a new e-commerce site.

Showhouses & Recommended Reading

The Kips Bay Decorator Show House New York announces its 49th annual show, while recommended reading explores the bidet trend, the significance of color in home appliances, and Atlanta’s booming movie industry and luxury real estate market. Additionally, the Bienenstock Furniture Library announces the winners of its student competition for furniture and interior design.

Stay tuned for more updates in the design world!