Articles from Bright MLS

Home sales transactions low but home prices hit new record high

Buyers and sellers holding back amidst economic uncertainty

New Survey from Bright MLS Shows Buyers Facing Less Competition in Early 2025

Despite economic uncertainty, it was a strong March housing market in most local markets

Heading into spring, buyers and sellers appear to be holding back

Fewer sales, slower price growth, and growing inventory suggest markets are reacting to rising mortgage rates throughout the Mid-Atlantic, as sales were down 18.1% year-over-year, according to the Bright MLS Monthly Housing Report released today. As home buyers have pulled back, active listings increased again in June. Despite a deceleration in sales activity, the median home price in the region continues to rise, staying at a record high of $399,000 in June – $124,000 higher than it was five years ago.

Bright MLS and California Regional MLS (CRMLS), the nation’s two largest Multiple Listing Services, announced today the launch of REdistribute, LLC, a joint venture that changes how MLS data is collected and distributed on behalf of the real estate industry for institutional use.

Rising mortgage rates and high prices are beginning to take a toll on prospective home buyers throughout the Mid-Atlantic, as sales were down 7.6% year-over-year, according to the Bright MLS Monthly Housing Report released today. As home buyers have pulled back, active listings increased for the first time since June 2015. Despite a deceleration in sales activity, the median home price in the region continues to rise quickly, reaching a record high of $399,000 in May – $124,000 higher than it was five years ago.

Bright MLS, one of the nation’s leading multiple listing services announced today that real estate economist Dr. Lisa Sturtevant has joined Bright MLS as the nation’s only MLS-focused economist where she will lead research, reporting and insights from Bright’s comprehensive array of real estate data. In 2021, Bright's over 100,000 subscribers facilitated $142B in real estate transactions through its system stretching across 6 states in the Mid-Atlantic.

Bright MLS, one of the nation’s leading multiple listing services announced today that real estate industry brand innovator Amit Kulkarni has joined the company’s executive leadership team as Chief Marketing Officer to lead the company’s integrated marketing and brand strategies. The appointment comes at a time of unprecedented demand and influx of investments in real estate technology.

The two largest Multiple Listing Services in the country, California Regional MLS (CRMLS) and Bright MLS, announced today they have signed an agreement to collaborate on technology solutions for the MLS industry. The organizations will work together to explore solutions that work for all industry stakeholders, including brokers, agents, other MLSs, and consumers. The alliance will combine the experience of both MLSs' teams to accelerate product and technology solution releases to the organizations' combined 200,000+ subscribers.

Bright MLS, the leading multiple listing service (MLS) in the Mid-Atlantic US representing 98,000 real estate professionals in Delaware, Maryland, New Jersey, Pennsylvania, Virginia, Washington, D.C., and West Virginia, announced today its 2022 Executive Committee and Board of Directors rosters, responsible for the overall governance of Bright MLS, and selected by their peers for their strategic thinking and deep real estate expertise. Both the Bright MLS Board of Directors and the Executive Committee are primarily comprised of Broker-owners from the organization’s geographic footprint.

Bright MLS announced today that Frank Major, Bright’s Chief Technology Officer, has been named to the Real Estate Standards Organization (RESO) Board of Directors. Founded in 1999, RESO provides guidance for the entire real estate marketplace through the creation and certification of national industry standards. Member organizations include MLSs, brokerages, REALTOR® associations and technology partners serving more than one million real estate professionals. As one of the first multiple listing services to achieve RESO’s Data Dictionary 1.6 Platinum Certification for ensuring industry-approved definitions and consistent terms and data structures, Bright is currently working with RESO to help define showing data standards aimed at supporting product choice.

Bright MLS, the leading multiple listing service (MLS) in the Mid-Atlantic US representing 98,000 real estate professionals in Delaware, Maryland, New Jersey, Pennsylvania, Virginia, Washington, D.C., and West Virginia, announced today that Brian Donnellan, President and CEO of Bright MLS, has been honored with a HousingWire annual Tech Trendsetters Award for the second consecutive year. The Award recognizes the top product and technology leaders who have been essential in bringing innovative tech solutions to the market for housing industry clients.

Bright MLS, which serves over 98,000 real estate professionals from Pennsylvania to Virginia, today announced the launch of Teams by Bright, an innovative leap forward which makes the Bright MLS system work more effectively for teams, and the brokers and agents who are organized around them.

Bright MLS, the leading multiple listing service (MLS) in the Mid-Atlantic representing 95,000 real estate subscribers is proud to announce its Customer Support organization has been certified as a BenchmarkPortal Center of Excellence for the second consecutive year. The award recognizes companies who achieve this world-class distinction by meeting or surpassing rigorous standards of efficiency and effectiveness. Bright is one of only two MLS organizations in the country who have achieved this certification. Contact centers achieve the Center of Excellence distinction based on best-practice metrics drawn from the world’s largest database of objective and quantitative data that is audited and validated by researchers from BenchmarkPortal.*

Bright MLS, a leading multiple listing service which supports over 95,000 real estate professionals from Pennsylvania to Virginia, today announced the results of a two-year study finding that homes sold on the multiple listing service and promoted to the entire Bright MLS network of 95,000 real estate professionals sold for more than similar homes sold off the multiple listing service. The median sales price for homes sold on-MLS was 16.98% higher than homes sold off-MLS.

Bright MLS, the leading multiple listing service (MLS) in the Mid-Atlantic representing 95,000 real estate professionals, announced Rene Galicia, JD has joined the Company’s leadership team as EVP, Customer Advocacy. Galicia’s appointment highlights Bright’s dedication and commitment to subscribers, ensuring customer advocacy and complete satisfaction. The addition of Mr. Galicia marks another significant expansion to the Company’s leadership team, following the previously announced appointment of Abhinav Gupta (previously of CoreLogic), as Head of Digital Product Management earlier in January 2021.