Market News February 28

Market Updates

MLS Prices Outpace Pocket Listings


Home sellers who didn't use a multiple listing service (MLS) collectively "left $1 billion on the table" over the past two years via lower closing prices, according to a Zillow study of 10 million transactions.

These homes typically sold for $4,975 less than those listed on it in 2023 and 2024, which added up to a median loss of 1.5% nationwide.

Off-MLS sales lowered the closing price in 44 out of the 46 states included in its study. Sellers in 33 states experienced median losses exceeding 1%, and sellers in 10 states saw losses greater than 2%.

The greatest median loss was in California, where sellers not using MLS saw an average price reduction of $30,075, or 3.7%. New York and Massachusetts sellers also saw lower prices. Lower-priced homes were the most severely impacted.1

Consumer Confidence Cools


Consumers grew pessimistic about the economic outlook, fueled by a slowing economy and rising inflation. The Conference Board, a nonprofit, non-partisan entity founded in 1916, reported that the Consumer Confidence Index declined by 7.0 points earlier this month. This was the lowest reading since June 2024 and the biggest monthly decline since August 2021.

Worries about future conditions outweighed concerns about today's markets.

  • The Present Situation Index fell 3.4 points to 136.5.
  • The Expectations Index dropped 9.3 points to 72.9.
Both consumers and economists are worried about the possibility of tariffs sparking more inflation. Consumer inflation expectations rose to 6%, up from 5.2% from January 2025.2

Just in Case: A Short Sale Primer


Short sales are possible options for homeowners who find themselves unable to make mortgage payments. The proceeds from a short sale don't repay the loan balance 100%, but many lenders see this as preferable to a foreclosure.

Whether you're an investor buying a short sale property or otherwise assisting with the transaction, here are the steps involved.

  1. The homeowner asks for lender approval. During this conversation, the lender may or may not approve the transaction. Lenders may also ask the seller to prove their inability to pay, such as payroll stubs or unemployment information, before approval.
  2. The agent involved provides a comparative market analysis to determine fair market value.
  3. The property is listed by an agent (unless the seller decides to list it as a FSBO). Agents should disclose the short sale within the listing, so potential buyers will understand that offers are subject to lender approval.
  4. Short sales can be marketed like regular listings through online sites, social media and multiple listing services (MLS) if the seller approves.
  5. Buyers interested in the short sale may submit offers to the lender. Agents must carefully prepare these offers and warn buyers of the longer timeline, together with the additional work required (appraisals, title searches, etc).
  6. All parties attend closing. The buyer officially acquires the home, agents receive compensation, and lenders retain the balance of the proceeds. Sellers may be required to contribute funds, depending on their lender agreement.
If you would like to become your area's short sale authority, consider earning the Short Sales and Foreclosure Resource (SFR®) designation.3

The Best Upload Times for YouTube Views


Making a video for YouTube takes planning, effort and time. So, you'll want to do what you can to max out your views. Recently, the staff at Buffer.com analyzed around 1 million videos' premiere times, to see which ones were the most and least popular. Here's what they found.

Generally speaking, afternoons are better times to upload than mornings. This suggests that most YouTube users prefer to watch videos later in the day as they've taken care of their essential tasks.

If you want to max out your uploading buck, here are the best times for every day of the week.

  • Monday: 4 p.m.
  • Tuesday: 3 p.m.
  • Wednesday: 4 p.m.
  • Thursday: 4 p.m.
  • Friday: 3 p.m.
  • Saturday: 5 p.m.
  • Sunday: 3 p.m.
The worst times to post on YouTube are generally between 3 a.m. and 5 a.m., when most viewers are asleep (and you should be too).4

More Buyers Go for Gift Funds

As more first-time buyers struggle to find a home, their family members are pitching in with down payment assistance, aka "gift funds". If you're working with prospective buyers who expect assistance from family members or other sources, here are some details to share.

Gift funds need to be carefully documented during the loan approval process. Different mortgages have their own requirements, too.
  • FHA loans have strict criteria for gift funds. Eligible sources are limited to relatives, close friends, employers, labor unions and charities.
  • Conforming loans require the giver of gift funds to be related directly, or by marriage, adoption or legal guardianship. The primary borrower must be able to provide at least 5% of the down payment if they're buying a home with two or more units.
  • VA loans are much less strict, as gift funds can come from nearly anyone.
  • USDA loans for properties in zoned rural areas also have relaxed guidelines, although a gift letter and documentation of the withdrawal and transfer of the funds are required.
If your buyers need assistance with documenting gift funds, or if you have questions, contact me for assistance.5

Sources: 1scotsmanguide.com, 2cnbc.com, 3theclose.com, 4buffer.com, 5mpamag.com