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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. Here’s what homebuyers and sellers can expect in 2024, according to Bright MLS: Mortgage rates will fall, ranging between 6% and 6.5% for much of the year before reaching 6.2%

MLS 493
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From consultation to closing: The definitive homebuying checklist

Housing Wire

Ill share everything you need to keep the homebuying process running smoothly from your first meeting to closing and beyond. From choosing a property to navigating the closing process, youll need to do a deep dive into their wants, needs, and deal breakers. Think of this as building a roadmap for their homebuying journey.

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Opinion: Local MLS broker marketplaces, rules equitably advance American homeownership

Housing Wire

In reality, consumers are better off and business competition thrives very much because of NAR’s rules and how well local Multiple Listing Service (MLS) broker marketplaces function. These local MLS broker marketplaces work in favor of consumers every day. And who is hurt most by that proposition?

MLS 488
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‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. Assisting homebuyers and their agents adds more to an LO’s plate.

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New-home sales fall in May as inventory piles up

Housing Wire

According to Bright MLS, the 481,000 new homes on the market is the most since January 2008, when homebuilders pulled back on production before the financial crisis. That’s because relative to homebuilders, homeowners have more options for offering concessions, such as help with closing costs and repairs. It was at 8.1

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Amid legal uncertainty, MLSs explore cooperative compensation workarounds

Housing Wire

Moving past cooperative compensation In early August, Bright MLS , the nation’s second largest MLS, began allowing listing agents to use a $0 blanket offer of compensation for buyer brokers and still list a property on the MLS. Let’s break down the changes and the implications.

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No ’horror stories’ from agents on the first weekend of NAR settlement changes

Housing Wire

When we got to the close of day on Friday, we were all kind of waiting to see if it was going to be a big event and then it wasn’t. Most sellers see the value of making sure their deal closes and are open to discussions of some participation in the buyer’s agent fee.” Why would we not disclose that info in MLS?