article thumbnail

Northwest MLS criticizes $418M NAR settlement agreement, opts out

Housing Wire

Northwest MLS , the largest multiple listing service in the Pacific Northwest, will not take part in the $418 million agreement reached by the National Association of Realtors (NAR) in the Sitzer/Burnett case. Secret deals’ The NWMLS board of directors made the decision to opt out at its most recent meeting, the organization said Tuesday.

MLS 471
article thumbnail

Study: Listings on Bright MLS show $54,000 benefit for sellers compared to off-MLS

Housing Wire

With the latest industry turmoil around compensation, steering and more due to lawsuits and the investigation by the Department of Justice , those outside the housing industry would assume the benefit to listing a home on the MLS would be negligible. “[That study] just showed the averages off-MLS versus the averages on-MLS.”

MLS 283
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Bright MLS updates its platform to conform with NAR settlement 

Housing Wire

Bright MLS , the nation’s second-largest multiple listing service, is set to overhaul its platform this summer to align with new standards stemming from the National Association of Realtors ’ recent settlement of the real estate agent commission lawsuits. Bright MLS also tells agents and brokers that commissions are negotiable.

MLS 338
article thumbnail

OneKey MLS acquires Mid-Hudson MLS

Housing Wire

OneKey MLS has acquired Mid-Hudson MLS according to an announcement on Monday, growing its membership to nearly 50,000 agents. The Poughkeepsie-based Mid-Hudson MLS is a broker-owned MLS serving over 1,400 agents in Dutchess County and the Mid-Hudson Valley area.

MLS 374
article thumbnail

Unsold homebuilder inventory is ticking up as new home sales slow

Housing Wire

After a boost in July, the sales pace of new homes slowed in August, according to data published on Wednesday by the U.S. In August, the sales pace of new homes fell 8.7% On a year-over-year basis, new home sales were up 5.8%. The seasonally‐adjusted estimate of new houses for sale at the end of August was 436,000.

As-is 468
article thumbnail

Pending home sales slowed considerably in April: NAR

Housing Wire

Pending home sales sales dropped 7.7% The NAR’s Pending Home Sales Index declined to 72.3 New-home sales , which are also based on contract signings, fell 4.7% Existing-home sales also declined last month to a seasonally adjusted annual rate of 4.14 Year over year, pending transactions fell 7.4%. All four U.S.

Sales 364
article thumbnail

Buyers will have more options in 2024, but affordability woes will persist: Bright MLS

Housing Wire

Bright MLS released its National Housing Market Outlook on Wednesday, which shows that affordability will remain the biggest challenge for homebuyers next year. Home sales are expected to rise, as homebuyers will have more options to choose from. Home sales are expected to rise, as homebuyers will have more options to choose from.

MLS 426