NAR to drop membership requirement for MLS access

Plus: Hidden costs of homeownership

November 18, 2025

⏰ Good Monday! Hope you all had a good start to the week.

Today's newsletter is 784 words, a 3.5-minute read.

1. NAR to drop membership requirement for MLS access

The National Association of Realtors (NAR) has announced major policy changes to its Multiple Listing Policy Handbook at the annual NAR NXT conference in Houston, including shifting control of many rules to local MLSs.

  • Agents will no longer be required to be members of Realtor associations to access their local MLS. Instead, local MLSs will decide whether non-Realtors can use their platforms.

Local MLSs will also have the authority to determine whether to accept open listings and whether to transmit listings to third-party aggregators or display them on public websites.

NAR said the updates, which take effect on January 1, 2026, represent the largest overhaul of the handbook in 20 years.

2. More than half of homes lost value in the past year

A new Zillow study shows that the value of 53% of homes declined over the past year, marking the fastest drop since 2012.

Nationally, prices are falling across much of the Southeast and parts of the West — while many cities in the Midwest and Northeast are still seeing home values rise.

Metros with the greatest share of homes that lost value since 2024:

Source: Zillow

A MESSAGE FROM DAVE YOUR MORTGAGE GUY

Every now and then, I meet a surviving spouse who could have used a VA loan but didn’t know they qualified. It’s one of those moments that stays with you because with the right guidance, they could have kept a benefit their spouse earned in service. You can be the one who helps make that happen.

Here’s what to know:

  • Surviving spouses can qualify for a one-time VA loan

  • The veteran must have died during service, from service-connected causes, or been 100% disabled until death

  • Remarriage before using the benefit ends eligibility

  • Rare exception if remarried after age 57 and before Dec 16, 2003

  • In some states, they may also save on property taxes

  • They can use this to buy a home or refinance!

If you have a client who fits this, let’s make sure they get every benefit they’ve earned before it’s too late. And help them together!

Do not Trust your VA families with any other lender! DiveDeeper

3. Catch up quick

🏘️ Centurion begins work on 1,300-home community in Denison. (DallasNews)

📉 Pending home sales dipped 0.3% year-over-year. (Redfin)

⚠️ Hidden costs of homeownership. (Zillow)

💵 Google to invest $40 Billion in Texas. (Google)

👴 Texas cities rank among the best places to retire. (USNews)

A MESSAGE FROM MONEY

Sticking with the same home insurance could cost you

Home insurance costs are rising fast, up nearly 40% nationwide in just the past few years. With premiums changing constantly, sticking with the same provider could mean overpaying by hundreds of dollars. Shopping around and comparing multiple insurers can help lock in better rates without losing the protection your home needs. Check out Money’s home insurance tool to shop around and see if you can save.

4. NAR: Home sales to rebound in 2026

The housing market could finally be poised for a comeback in 2026, with the National Association of Realtors (NAR) projecting a 14% jump in existing-home sales after a stagnant 2025.

The forecast, delivered by NAR chief economist Lawrence Yun at the group’s annual forum, points to steady job growth, gradually declining mortgage rates, and persistent supply shortages as the key drivers behind the anticipated rebound.

NAR expects median home prices to rise 4% in 2026, following a 3% increase in 2025. New-home sales are also projected to grow 5% next year.

5. FSBO home sales fall to record low

The latest NAR data shows that FSBO (For Sale By Owner) home sales have dropped to an all-time low, making up just 5% of all transactions, a significant decline from 21% in the early 1980s.

Nearly all sellers now prefer working with agents, showing a clear shift toward valuing expertise, efficiency, and reduced risk.

Key forces behind the shrinking FSBO market:

  • FSBO activity is mostly limited to rural and niche markets

  • FSBO properties consistently sell for less than agent-listed homes

  • Sellers often rely on informal pricing methods, leading to weaker results

  • Most FSBO sellers do not repeat the experience

Source: NAR

A MESSAGE FROM TX FLYOVER

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6. Hill Country property rumored to have buried treasure hits market for $9.9M

A 1,266-acre Hill Country ranch rumored to contain buried treasure has hit the market for $9.9 million.

Bullhead Mountain Ranch, located near Vance, was once a campsite for Spanish soldiers traveling through the region. According to legend, gold coins were buried somewhere on the property centuries ago.

Featuring rolling hills, a spring-fed creek, and limestone bluffs, the ranch includes two main residences, a foreman’s house, guest quarters, barns, and working pens. It’s also a strong hunting destination, with abundant deer, turkey, and wild hogs.

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