Inman Connect
It seems a former pocket listing service is not going down without a fight. The PLS, formerly a private listing network for real estate agents, is appealing a dismissal of its antitrust lawsuit against the National Association of Realtors and three of the nation’s largest multiple listing services.
In May 2020, The PLS filed a federal antitrust lawsuit against NAR and the California Regional MLS (CRMLS), Bright MLS and Midwest Real Estate Data (MRED) over a policy designed to curb pocket listings.
The suit alleged the defendants had violated the federal Sherman Antitrust Act and California’s Cartwright Act for adopting the Clear Cooperation Policy, also known as MLS Policy Statement 8.0, which requires listing brokers to submit a listing to their MLS within one business day of marketing a property to the public.
Inman Connect
A federal court has permanently tossed an antitrust lawsuit filed by a former pocket listing service against the National Association of Realtors and three of the largest multiple listing services in the country, finding that the plaintiff’s arguments are so flawed that the case cannot be saved.
In May 2020, The PLS, formerly a private listing network for real estate agents, filed a federal antitrust lawsuit against NAR and the California Regional MLS (CRMLS), Bright MLS and Midwest Real Estate Data (MRED) over a policy designed to curb pocket listings.
The suit alleged the defendants had violated the federal Sherman Antitrust Act and California’s Cartwright Act for adopting the Clear Cooperation Policy, also known as MLS Policy Statement 8.0, which requires listing brokers to submit a listing to their MLS within one business day of marketing a property to the public.
Then came January: Three of the four weeks had median home sale prices in the range of 20 percent above the corresponding week last year. January is typically a slow month in Chicago s real estate market, but January 2020 was strong, which makes the January 2021 increases even more noteworthy.
In the week that began Jan. 4, the median price of homes sold in the Chicago metropolitan area was up more than 18 percent from a year earlier, according to the MRED weekly reports. In the two subsequent weeks, the increases were 20 and 21 percent. In the last week of January, data released today show, the increase was just under 14 percent.
Illinois housing market has strong finish
Star Courier
SPRINGFIELD The Illinois housing market defied seasonal expectations with statewide home sales and prices higher not just in December, but for 2020 as a whole, according to data released by Illinois REALTORS®.
Statewide home sales (including single-family homes and condominiums) in December 2020 totaled 14,835 homes sold, up 28.7 percent from 11,531 in December 2019. Year-end 2020 home sales totaled 172,394, up 9.6 percent from 157,268 in 2019.
The statewide median price in December was $229,000, up 14.6 percent from $199,900 in December 2019. The median is a typical market price where half the homes sold for more and half sold for less. The year-end 2020 median price reached $225,000, up 7.7 percent from $209,000 in 2019.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Real estate professionals with MRED connections post strong showing in Swanepoel Power 200
Midwest Real Estate Data LLCJanuary 13, 2021 GMT
LISLE, Ill., Jan. 13, 2021 (GLOBE NEWSWIRE) Seven real estate professionals with ties to Midwest Real Estate Data were named to the 2021 Swanepoel Power 200 list of top executives.
The list, which also features MRED President/CEO Rebecca Jensen, ranks the real estate brokerage industry’s most influential leaders based on eight criteria including organizational impact and initiatives.
MRED subscribers featured on the list included:
Michael Golden and Thad Wong (Co-CEO & Founders, @properties) - 33