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Why the US MLS system is the envy of other countries

Housing Wire

Multiple Listing Services (MLS) by those trying to disparage the system. The cooperative MLS system exposes home listings to the largest number of potential buyers with an offer of compensation to any successful buyers’ agent. It’s easy to understand what a market without an MLS would look like and why it doesn’t work.

MLS 382
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Job gains slow in June, but are probably still too hot to sway the Fed

Housing Wire

Manufacturing activity remains quite weak, while consumer spending has held up somewhat better, and new home construction and sales have picked up. Employment in the construction industry has increased by an average of 15,000 per month thus far this year, compared with an average of 22,000 per month in 2022.

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Bringing MLS Software Into the Modern, Mobile Era

GeekEstate

Today’s showcase: Perchwell] A business operating system, Perchwell, provides listing data management, search, and syndication plus collaboration solutions for residential real estate professionals and their clients. First launched in New York City, Perchwell has powered REBNY’s Residential Listing Service since 2020. Backed by CRMLS.

MLS 125
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Why investors believe CoStar holds a big advantage post-NAR settlement

Housing Wire

Friday’s bombshell – the National Association of Realtors ‘ proposed $418 million settlement of real estate commission lawsuits – set off a frenzy of trading for stocks in the residential real estate sector. Two of every three dollars made by the residential segment came from services for buyer agents.

Investor 430
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Is job growth slowing enough for the Fed?

Housing Wire

Lisa Sturtevant, Bright MLS’ chief economist, said in a statement. The construction sector added 24,000 jobs in February thanks to a large uptick in the specialty trade contractors segment of construction, which gained 13,400 jobs, and residential specialty trade contractors accounted for 11,200 of those jobs.

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Inflation moderates to 3.2% in October

Housing Wire

“Shelter inflation has been coming down slowly since the summer, as new residential construction activity ramped up in 2023,” said Lisa Sturtevant, chief economist for Bright MLS. Even though shelter prices dropped to 0.3% the prior month, they’ve increased 6.7%

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May jobs report complicates things for the Fed

Housing Wire

The construction sector also saw job gains in May, adding 25,000 positions, thanks to a large uptick in heavy and civil engineering construction, which added 10,700 jobs. Residential building construction added 2,400 jobs during the month.