Home price gains slow as mortgage rates rise

Altos Research is the premier resource for real-time real estate data. We provide weekly market statistics, analysis and reporting for 99% of the zip codes in the U.S., helping real estate professionals, investors, financial institutions, and their clients make better-informed decisions.

Featuring Mike Simonsen, President of Altos Research

A true data geek, Mike founded Altos Research in 2006 to bring data and insight on the U.S. housing market to those who need it most. Altos provides national and local real estate data to financial institutions, real estate professionals, and investors across the country, and the company is now part of HW Media, publisher of HousingWire and RealTrends. Mike uses Altos data to identify trends in the real estate market well before the headlines, and his work has been featured in the New York Times, The Atlantic, Fortune, Forbes and other publications.

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Altos Research is now part of HW Media! Check out their channel at @HousingWire for more housing market insights.

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[nonexistent]

I think we're lucky to have rates high. The longer this market stays frozen the healthier it will be in the long term.

[thenewdoorgroup]

Rising inventory is a great thing...IF there are also more buyers. However, I don't see that happening, generally, if current conditions persist. In the Denver metro area, we have about 24% more inventory than last year, up 10% in the last 3 weeks. However, we have 12% fewer homes sitting under contract, up 7% from 3 weeks ago. So far in February, we have seen 10% fewer showings than last February, and up substantially from the 1.5% YoY deficit we had in January. More selection is being met with fewer buyers which is just going to lead to more frustration, more price cuts, sooner price cuts, and lower sales prices for those additional sellers.

[MaddieBr]

How is Altos' data affected by houses that are on the market for a few months, get taken off for a while, put back on, with relatively minor price adjustments up and down?

[SusannaKunkel]

In our area, prices have remained stable and strong but we are still low on inventory and number of sales

[rockn]

And CHESTER COUNTY Pennsylvania it’s not lower income prices there they are actually going higher. Three bedroom two bath little home and a little community. They want $800, 000 for I see it is 475 really I can’t believe people are paying these prices.

[EvanSchurr]

But but but but I thought muh Fed said interest rates were gonna come down