Tech Nest: The Proptech Podcast Busting Real Estate Data Myths with Mike Simonsen, President of Altos Research
Mike Simonsen, President of Altos Research, joins Tech Nest today to discuss real estate data and some of the myths around mortgage rate lock-ins.
Altos Research offers local and national real estate data to financial institutions, real estate pros, and investors. Simonsen reveals that the lock-in effect started in 2014, not 2022, due to falling mortgage rates making homeowners hesitant to sell. He highlights the importance of viewing data from various angles and explains how Altos Research tracks the active market, focusing on pricing, inventory, and trends.
Altos Research just recently announced a new product feature, adding pending data to show properties under contract, giving a quick, accurate market snapshot.
Mike also shares insights as to how the future of real estate data will see more sources and better analysis, though affordability issues will likely remain (sadly). Despite affordability challenges, purchasing a home is expected to get simpler as advances in tech could lead to faster underwriting and quicker closings, streamlining the home buying process.
More about Mike and Altos Research
Altos Research tracks the US real estate market in real-time. For over 15 years the company has provided national and local real estate data to financial institutions, investors, and tens of thousands of real estate professionals across the country.
Altos Research was acquired by HW Media in December 2022.
Mike Simonsen is the founder and president of real estate analytics firm Altos Research, which has provided national and local real estate data to financial institutions, real estate professionals, and investors across the country for more than 15 years. An expert trendspotter, Mike uses Altos data to identify market shifts months before they hit the headlines and his work has been featured in the New York Times, The Atlantic, Fortune, Bloomberg, and other publications.