Jonathan Miller, known for his long-standing analysis of the residential real estate market, is partnering with The Real Deal, according to a May 21 announcement. Miller’s Housing Notes column will now be published on The Real Deal’s website several times each week. In addition, his quarterly report for New York City, previously released through Douglas Elliman for over thirty years, will become “The Real Deal report, prepared by Jonathan Miller.” Data from Streetmatrix, Miller’s data venture providing hyperlocal statistics, will also be made available to TRD Data subscribers.
The collaboration brings a prominent voice in real estate analysis to a wider audience and integrates detailed market data into The Real Deal’s offerings. Editors at The Real Deal said they are excited about the partnership and highlighted that readers can expect regular insights from Miller moving forward.
A recent white paper by the Federal Reserve Bank of Philadelphia was discussed in one of Miller’s columns. This November 2025 study found that older homeowners tend to earn lower returns when selling their homes compared to middle-aged sellers. Factors contributing to this so-called ‘age gap’ include property condition and sales through private listings or off-market channels—especially when selling to investors. According to the paper’s abstract: “Older home sellers receive lower returns than younger home sellers. Homes sold by older people have fewer major renovations but higher rates of poor upkeep… Older sellers are also more likely to sell off-MLS (‘pocket listings’) and to sell to investors, leading to lower prices.” Reforms aimed at increasing transparency in private listings were shown in the study to reduce both pocket listing prevalence and the magnitude of this age gap.
Miller further examined policy changes made by Midwest Real Estate Data (MRED), which increased public MLS exposure for homes owned by those aged 75 and above—resulting in improved sale outcomes for elderly homeowners. He noted that while private marketing may serve legitimate purposes such as privacy or limited showings, its drawbacks disproportionately affect older owners who may struggle with cognitive decline or financial misperceptions.
Ongoing disputes between Compass and Zillow over private listing networks (PLNs) were also addressed in Housing Notes columns featured on The Real Deal site. Issues include incentives within Compass encouraging internal referrals among agents as well as MRED’s decision-making regarding which listings appear on public platforms like Zillow.
As these topics continue evolving within real estate circles—including debates about transparency and consumer protection—Miller’s analyses are expected to offer ongoing insight into how industry practices impact various groups.
