Steve Murray

2 months ago | housingwire.com | Steve Murray |Tracey Velt

The dual shocks of the 2022–2024 housing market downturn and the outcomes of significant litigation are now in the rearview mirror. In response, many brokerage firms have adapted their business models to navigate these challenges. While these adjustments have allowed firms to achieve profitability at current sales levels and comply with the changes to MLS policies resulting from the settlement, it does not necessarily signal a return to the heights previously seen in the industry.

Jul 10, 2024 | housingwire.com | Steve Murray

For over 37 years I have been a consultant to brokerage firms, MLS’s, Association of Realtors, and other entities related to the residential brokerage industry. In addition to general advisory consulting, I was involved in nearly 1,000 sales or acquisitions of entities in this industry. In addition to my role as a consultant, I was editor of REAL Trends, reporting on the same industry.

Jan 31, 2024 | housingwire.com | Steve Murray

RIP 2023 — Whew, that was a year none of us would like to live through again. Chances are, we won’t have to anytime in the next few years. RealTrends has been tracking housing market data since 1979, including households, home sales, average mortgage rates, etc. One of the most important calculations we do each year is measure the percentage of all households that purchased a home, whether new or existing, in a given year.

Jan 16, 2024 | housingwire.com | Steve Murray |Tracey Velt

A few days ago, the three main defendants—National Association of Realtors, Keller Williams and HomeServices—in the Sitzer/Burnett case filed two motions with the court. The first was a motion for judgement as a matter of law and the second was a motion for a new trial. These actions by the three firms are all a matter of public record. I have read them and talked with one of the defendants to get some clarification and an explanation of the basis of the filings.

Nov 20, 2023 | housingwire.com | Steve Murray |Tracey Velt

While reading about the $1.8 billion dollar damages claim assessed against the National Association of Realtors, Keller Williams and HomeServices, I wondered what impact this could have economically on the industry. I decided to break down the numbers and look at brokerage economics. Last year, nationally there were slightly over 10 million transactions of existing homes sales.