It is not the flashiest or most dynamic part of the real estate industry. The concept of a Multiple Listing Service, or MLS, goes back more than 100 years when local boards would meet in a dusty office and exchange paper copies of listings. Eventually, these were consolidated into larger volumes accessible by members of local or regional associations, before the dawn of the internet blurred regional lines and gave broad access to listing data for both consumers and real estate professionals.
After seeing several months of gains, existing-home sales retracted in December by 7.1% to a seasonally adjusted annual rate of 6.18 million, with each of the four major U.S. regions seeing both a month-over-month and year-over-year decreases, according to the latest data from the National Association of REALTORS® (NAR).
Despite the drop, overall sales for 2021 increased 8.5%, marking the highest annual level since 2006.