Multiple listing service

Seasonality pushes Texas new home sales lower, “Spring will see a rebound,” Ben Caballero says

Retrieved on: 
Wednesday, February 21, 2024

In January, the 3-month average new home sales in Dallas-Ft. Worth, Houston, Austin and San Antonio combined show a of 5,119 sales versus 5,350 sales in December.

Key Points: 
  • In January, the 3-month average new home sales in Dallas-Ft. Worth, Houston, Austin and San Antonio combined show a of 5,119 sales versus 5,350 sales in December.
  • For Texas, the average DOM was up slightly with January at 102.05 days versus 100.26 days in December.
  • The average 3-month new home prices in three of the four largest new home markets in Texas were stable in January.
  • Caballero explained the 3-month moving average indices track market seasonality, while the 12-month moving average removes the seasonality and tracks the longer trend.

Zimmerman Reed Sues Redfin and Realtors Associations for Antitrust Violations

Retrieved on: 
Tuesday, March 5, 2024

Due to the MLS conditions set by the National Association of Realtors and the California Association of Realtors, buyer's-side agents are actually paid by the opposite party in a home sale--the buyer. Because buyers therefore do not pay their own agents, the market is deprived of the downward pressure on prices that occurs with true competition; the buyer has no incentive to shop around, and the agents have little incentive to discount their rates. As a result, homeowners pay higher fees for one of their largest transactions of their lives.

Key Points: 
  • Zimmerman Reed has filed a case in Federal Court in the Central District of California against Redfin, National Association of Realtors, and the California Association of Realtors for allegedly conspiring to fix and inflate the price of buyer-side real estate agent commissions to supercompetitive levels.
  • That's why we aim to permanently end this practice for all Californians," said Caleb Marker, Zimmerman Reed Managing Partner.
  • The National Association of Realtors administers MLS through local branches and sets the conditions for using its indispensable MLS tool.
  • The case also alleges that Redfin have agreed to these rules set by the realtor associations and required its Redfin agents to abide by them as well, prior to Redfin's exit from the California and National Associations of Realtors in late 2023.

Miami-Dade County Total Home Sales, Total Dollar Volume Rise

Retrieved on: 
Thursday, February 22, 2024

MIAMI, Feb. 22, 2024 /PRNewswire-PRWeb/ -- Miami-Dade County total home sales and total dollar volume rose year-over-year as South Florida real estate continues to outpace the nation even as mortgage rates return to the 7% range, according to January 2024 statistics released by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.

Key Points: 
  • Miami-Dade total home sales increased 0.9% and total dollar volume jumped 19% year-over-year in January 2024.
  • The statistics would be much stronger if they included South Florida's robust developer new construction market and volume.
  • Miami total new listings increased 21.7% year-over-year in January 2024, from 3,257 to 3,963.
  • Miami total dollar volume totaled $1.3 billion in January 2024.

Privy Secures $4M in Strategic Growth Capital to Scale Real Estate Investing Platform

Retrieved on: 
Thursday, February 15, 2024

DENVER, Feb. 15, 2024 /PRNewswire/ -- Privy, a real estate investment software platform providing curated information to individual investors and real estate agents focused on residential investment opportunities and wealth-building, secured $4 million in non-dilutive growth capital from Cypress Growth Capital.

Key Points: 
  • Following Cypress Growth Capital's Investment, Privy Founder and CEO Scott Fahl to Launch Speaker Series
    DENVER, Feb. 15, 2024 /PRNewswire/ -- Privy , a real estate investment software platform providing curated information to individual investors and real estate agents focused on residential investment opportunities and wealth-building, secured $4 million in non-dilutive growth capital from Cypress Growth Capital .
  • Privy allows real estate investors and agents to find profitable deals with push-button simplicity.
  • They have the experience to help us scale strategically and understand what we mean when we say we want to change the real estate investing game."
  • "Privy has an innovative SaaS solution serving a rapidly growing segment of the real estate investment market," said Cypress Growth Capital Managing Director Vik Thapar.

Unlocking Opportunity: Canada’s Luxury Real Estate Market Primed for Buyers Amidst Price & Rate Stability

Retrieved on: 
Wednesday, January 31, 2024

TORONTO, Jan. 31, 2024 (GLOBE NEWSWIRE) -- Canada’s metropolitan luxury real estate market evolved over the course of 2023 as buyers emerged from the sidelines with newly altered housing preferences and sharpened priorities, as well as negotiating power that steadily increased as the year progressed. Although overall sales activity was subdued by a volley of stressors that ranged from economic and geopolitical shocks to interest rate hikes, persistent inflation and regulatory changes, high-end buyers remained engaged and strategic. By the end of 2023, as segments of the country’s major metropolitan markets saw softening prices, and an increase in inventory and conditions that leaned in favour of buyers, the collective resilience and preparation of affluent home buyers and investors became apparent. Following years of unyielding constraints on luxury housing supply, affluent buyers and investors were primed to seize opportunities for upward housing mobility in a favourable market with replenished inventory and still-limited competition, foreshadowing strategic sales activity in early 2024.

Key Points: 
  • Vancouver’s luxury real estate market experienced a dramatic transformation over the course of 2023, as single family homes emerged as a focal point for luxury buyers.
  • The City of Vancouver’s luxury real estate market underwent a dramatic transformation over the course of 2023.
  • In the final quarter of 2023, a rise in conventional and luxury real estate inventory tilted the market in further favour of purchasers and tipped the city’s luxury condominium market firmly into buyers’ market territory.
  • Despite these influences, Montreal’s luxury real estate market is well positioned for stability, according to Sotheby’s International Realty Canada experts.

Franchise Industry Rebel Launches BIZLINX.ai to Revolutionize & Disrupt the Franchising Industry

Retrieved on: 
Thursday, February 1, 2024

Enter BIZLINX.ai, a cost-effective, time-efficient, AI-powered + match-making business exchange that improves the experience of franchising for both sellers and buyers.

Key Points: 
  • Enter BIZLINX.ai, a cost-effective, time-efficient, AI-powered + match-making business exchange that improves the experience of franchising for both sellers and buyers.
  • BIZLINX.ai will disrupt the industry by bypassing brokers and sales representatives, with quick access to franchise information, similar to the Multiple Listing Service (MLS) in residential real estate.
  • Founded by franchise industry guru, Sarah Moudry, BIZLINX.ai seeks to reduce the pain points associated with buying and selling franchises.
  • This is a pain point Moudry knows all too well from her 20 years in the franchise industry.

Bright MLS "Open Housing Marketplace" Campaign Selected as 2X Bronze Winner in Prestigious Webby Anthem Awards

Retrieved on: 
Tuesday, January 30, 2024

Launched in 2021 by The Webby Awards, The Anthem Awards honors the purpose & mission-driven work of people, companies and organizations worldwide.

Key Points: 
  • Launched in 2021 by The Webby Awards, The Anthem Awards honors the purpose & mission-driven work of people, companies and organizations worldwide.
  • Straightforward and consumer-facing campaign assets were created to educate, inform and encourage support of the fair and open housing marketplace.
  • That's why I am incredibly proud of the internal Bright team who developed this powerful campaign," said Amit Kulkarni, Bright MLS Chief Marketing Officer.
  • A portion of program revenue is allocated to the Anthem Award's grant program, The Anthem Fund.

MLS United, LLC Teams up with Leading REALTOR® Associations in Mississippi to Provide FOREWARN® Services

Retrieved on: 
Wednesday, January 24, 2024

Available both online and through a mobile application, FOREWARN® analyzes billions of data points and provides users with the ability to mitigate risks by verifying identity, searching for criminal histories, and validating information provided by potential clients -- using just a phone number. FOREWARN® allows agents to properly and safely plan for showings with a higher level of confidence.

Key Points: 
  • This collaboration will extend FOREWARN® services to over 6,200+ MLS United customers at no additional cost to individual agents.
  • “We are thrilled to provide FOREWARN to our customers, enhancing their ability to work safely and guard against potential fraud,” stated Joe Rogers, CEO of MLS United.
  • FOREWARN facilitates this process quickly and efficiently.”
    Northwest Mississippi REALTORS®, Central Mississippi REALTORS®, and Gulf Coast Association of REALTORS® members will receive detailed instructions for activating their complementary FOREWARN® subscription.
  • In the near future, FOREWARN® services will be available to MLS United's “MLS only” customers.

Texas new home sales finish the year strong as outlook brightens

Retrieved on: 
Wednesday, January 24, 2024

DALLAS, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Texas average new home sales were higher in all four of its largest markets last month, with Dallas-Ft Worth, Houston, and Austin turning in strong year-end sales as the outlook for 2024 brightens.

Key Points: 
  • DALLAS, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Texas average new home sales were higher in all four of its largest markets last month, with Dallas-Ft Worth, Houston, and Austin turning in strong year-end sales as the outlook for 2024 brightens.
  • In December, average home sales were higher in Texas’ four largest markets, with Dallas-Ft Worth, Houston, and Austin turning in higher end-of-the-year sales.
  • Last month, the 3-month moving average of new home MLS sales in Texas' four largest markets was 5,350 versus 5,172 in November.
  • "Texas new home sales finished the year strong,” said Ben Caballero, America's No.

Miami-Dade Single-Family Home Sales Increase; Miami Continues to Lead Nation in Price Appreciation

Retrieved on: 
Friday, January 19, 2024

MIAMI, Jan. 19, 2024 /PRNewswire-PRWeb/ -- Miami-Dade County single-family home sales rose year-over-year as Miami continues to lead the U.S. in price appreciation, according to December 2023 statistics released by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.

Key Points: 
  • Miami-Dade County single-family home sales rose year-over-year as Miami continues to lead the U.S. in price appreciation, according to December 2023 statistics released by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.
  • MIAMI, Jan. 19, 2024 /PRNewswire-PRWeb/ -- Miami-Dade County single-family home sales rose year-over-year as Miami continues to lead the U.S. in price appreciation, according to December 2023 statistics released by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.
  • "Miami real estate is outperforming the nation because of our unique market fundamentals," MIAMI Chairman of the Board Gus Fonte said.
  • Miami Median Price Appreciation Outperforming Nation, State
    In Florida, closed sales of single-family homes statewide totaled 18,423 in December 2023, down 3.8% year-over-year, while existing condo-townhouse sales totaled 7,202, down 6.2%.