Tuesday, November 25. 2008
We see a lot of good real estate data here at Altos. We see a lot of great presentations of that data too. We decided that we'd like to offer some recognition for the best stuff out there. So we thought it'd be fun to have a little awards ceremony. We'll call it the Data-Rich Realtors Awards. A few guidelines: - Despite the name, we'd like to honor people in all parts of the real estate world. Realtors, mortgage, investors, other service providers.
- The nominations are not limited to blogs. Though since many of the best publish their work on blogs, we expect that'll be a big part. There are tons of ways to analyze, present, and leverage data in the real estate business. All are welcome.
- Nominations are not limited to Altos Research clients. There's tons of data out there and we want to honor innovative analysis and useful presentation. (Though many Altos clients are indeed data-rich...)
- We're honoring people, not websites.
- Individuals who contribute to websites are indeed eligible.
- We'd like to honor brokerages or other firms, especially if you have the name of the person spearheading a great data project.
Nominate someone! (feel free to nominate yourself!)
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Or email us: send name, web site, and other relevant info, like a particularly great blog, post to datarich@altosresearch.com We'll take nominees through December 15, 2008 The Winners Winners will be selected from the nominees by a panel of judges. We'll annouce the winners at the end of December. Nominate early, nominate often!
Tuesday, November 18. 2008
Some nice press coverage in BusinessWeek this week. We compile unique luxury real estate data for our friends at the Institute for Luxury Home Marketing. If you stopped by the ILHM booth at NAR last week, you'd have seen the great report that their members have access to. The Institute launched the reports at the show.  Coincidentally, BusinessWeek called looking for insights on how the real estate market is performing at the very high-end. The short answer is that, while the luxury market held out longer than the low end, everyone is feeling the pain now. "The entry level of the upper tier--the $500,000 price point and up--has been softening for a while," said Laurie Moore-Moore, founder and CEO of the Institute for Luxury Home Marketing, a Dallas-based group that trains high-end agents. "What we've also seen in the last month is huge uncertainty at the very top of the market. People want to know where are we headed, how serious [the downturn] is going to be, and what is the duration. There are enough questions that at even at the top of the market people are waiting and watching."
Here's how our Luxury Real Estate Market data works: We take the 10 highest-priced zip codes in 31 metro markets around the county (as long as their median price is over $500,000). We composite those zip codes together into a metro regional view (for example of the luxury real estate market in Los Angeles). Then we roll all the metros into a nation-wide view, which we call the ILHM National Composite. The data and report are available only through ILHM and ILHM members. If you're interested in seeing all the detailed statistics at the national level, you can download the weekly National Luxury Market Report from ILHM. Institute members have access to the detailed luxury data in their local markets as well, which is cool.
Thursday, November 13. 2008
Big week here at Altos Research World Headquarters. We get to announce our latest addition to the team, Kris Miranda! Kris is taking the role of Customer Service Guru. That means most of the time she'll be working with our Realtor subscribers - helping them maximize their benefit of working with Altos, getting them up to speed quickly, holding hands when necessary.
Her talents include all those areas that our clients care about - strong web technical chops, excellent experience with internet marketing and she's a great problem solver. We have ambitions here at Altos to really distinguish ourselves with our customer service, much the way the team at Zappos and our friends at RealEstateShows have done. It took us a long search but we found someone who has the skills and style to be totally focused on the strategic and tactical success of our clients. We couldn't be more excited. Everyone bid Kris a warm welcome. She's your new best friend!
Tuesday, November 11. 2008
Our latest article with Forbes.com is out. This one was a toughie. Their editors called and asked, "Where are the best selling suburbs for sellers right now?" It's a tough question because the answer, really, is no where.  Sure the best properties, properly priced, in the best neighborhoods, will find their buyers. In fact we documented surprising resiliency in some markets through the summer. But even though prices might be holding, demand continues to slip. By our Market Action Index, there are essentially no markets with demand levels high enough to call them "Seller's Markets". We settled on identifying ten suburbs whose demand trends (as measured by Market Action Index and days on market) simply weren't horrible. My tongue-in-cheek quote for Matt at Forbes was,"If you have to sell your home, do it in one of these suburbs." Full article at Forbes.com
Monday, November 10. 2008
Our latest National Real Estate Market Report is out today. Prices continuing their drop nationally, with some evidence that the price declines are even accelerating. Here's the press release. The November 7, 2008 PDF Report can be downloaded here.
Report: Real Estate Prices Decline by 1.5% in October
The Altos Research Real-Time Real Estate Report measures current real estate data in major markets around the country. The latest data shows home prices continuing their decline, dropping 1.5% in October. Inventory of available homes declined in all 26 markets monitored in the report, but demand levels are dropping faster than supply.
Mountain View, CA (PRWEB) November 9, 2008 -- The Altos 10-City Composite Price Index showed a decline in asking prices of 1.5% in October and 2.9% for the past three months. Prices of properties listed for-sale fell in 22 of 26 major markets according to the Real-Time Housing Market Report, published by Altos Research, the premier source for real-time real estate research, and market analysis consultancy Real IQ.
Asking prices fell at the fastest rate in Las Vegas - down 3.7% during October - and 7.1% over the most recent three-month period. This marks the seventh consecutive month that Las Vegas has posted the fastest rate of declining prices among major markets. Listing prices rose at the fastest rate in Denver - up 0.7% in October - followed by Houston where prices were up 0.6%. Denver and Houston are now the only markets showing three months of sequential price increases.
"The fleeting signs of price stability that we saw during the summer have now completely vanished," said Stephen Bedikian, partner and research director for Real IQ. "October's stock market crash has crushed consumer confidence and housing price declines have resumed across most major markets."
Inventory levels declined in all 26 markets. Inventory fell by the largest amounts in Boston and Charlotte with inventory contracting 7.9% and 5.7% respectively. Several other markets showed inventory declines of more than four percent for the month including: San Jose, Detroit, Houston and Phoenix.
"During October the steady trend of declining inventory continued with every single market showing a drop," said Michael Simonsen, CEO and co-founder of Altos Research. "However, economic conditions have been eroding housing market demand faster than supply is contracting with the result that listing prices continue to fall."
Twenty-three of 26 markets had an average days-on-market of 100 or more. The average days-on-market rose in all 26 markets. By far, the market with the slowest rate of inventory turnover was Miami at an average of 172 days-on-market. Miami has experienced the slowest market turnover in every month since September 2007. Miami's rate of turnover is now twice as slow as San Francisco which enjoyed the fastest rate of inventory turnover at an average of 86 days-on-market.
Data in the Real-Time Housing Market Report is based on analysis of over one million properties currently listed for-sale in 26 metropolitan markets across the country. The report is the timeliest source of housing market data on current market activity.
The report examines housing pricing, inventory levels and market conditions in 31 major U.S. metropolitan statistical areas (MSAs): Atlanta, Austin, Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Detroit, Houston, Las Vegas, Los Angeles, Miami, Minneapolis, New York, Phoenix, Portland, San Diego, San Francisco, Seattle, Tampa, and Washington, DC. The Real-Time Real Estate Report is released every month.
About Altos Research
Altos Research LLC pioneered real-time real estate research. Founded in 2005, the company's information products serve investors, traders, and thousands of real estate professionals. Because real estate data is traditionally obscure and highly latent, Altos built the Real-Time Market Intelligence(TM) platform to monitor dozens of housing market metrics as they are right now in local markets across the country. The company publishes real estate reports and real estate data each week for thousands of zip codes around the country.
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