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Home Prices Increase in May According to Altos Research
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Home Prices Increase in May According to Altos Research
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
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Receive Multiple Offers. Save Money.
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Home Prices Increase in May According to Altos Research
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June 6, 2011 (Jeff Alan)

Although home prices in the first quarter of 2011 show a double dip, the latest data from Altos Research’s Mid-Cities Composite shows signs of a strengthening spring market as median home prices increased from $440,194 in April to $444,273 in May 2011.

The new Altos Mid-Cities Composite examines an alternate set of smaller Metropolitan Statistical Areas (MSAs) across the country to counter the volatility seen in larger, mostly coastal cities in the Case-Shiller Home Price Index (HPI).

Only two of the 29 markets, New York and Las Vegas, reported deceases in prices. Prices in New York were down 2.85 percent in May compared to April, and Las Vegas reported a 0.76 decrease in May compared to April.

The cities with the largest price gains in May, compared to April, were San Francisco (3.33%), Washington D.C. (3.27%) and San Jose (3.14 %).

Housing inventory also increased in the month of May, though at a slower pace than what was seen with earlier spring numbers. Seven of the 26 markets showed double digit increases in spring housing inventory on the 90 day average, with Boston having the largest gains with a 29.01 percent inventory increase.

Other cities experiencing double digit gains in inventory on the 90 day average were New York (16.45%), Washington D.C. (15.95%), Philadelphia (14.83%), Austin (14.81), San Francisco (13.76%), and Minneapolis (12.25%).

Phoenix suffered the largest decrease in housing inventory on the 90 day average at -15.25 percent, with Miami (-7.86%) and Tampa (-1.78%) the only other two cities experiencing a shrinking inventory.

Altos Research calls the current housing market the “Catfish Recovery” by saying, “Catfish spend their time moving slowly at the bottom of lakes and rivers bobbing up and down from place to place without a clear direction. Plan for prices over the long term to hit a bottom, rise a bit, sink back down, rise again—a pattern we expect with the housing market for several years. The housing recovery will take a long time and it is going to happen slowly.”

You can read Altos Research’s Mid-Cities Composite in its entirety here.

Tags: Altos Research, Mid-Cities Composite, median home price, housing inventory, spring selling season

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June 6, 2011 (Jeff Alan)

Although home prices in the first quarter of 2011 show a double dip, the latest data from Altos Research’s Mid-Cities Composite shows signs of a strengthening spring market as median home prices increased from $440,194 in April to $444,273 in May 2011.

The new Altos Mid-Cities Composite examines an alternate set of smaller Metropolitan Statistical Areas (MSAs) across the country to counter the volatility seen in larger, mostly coastal cities in the Case-Shiller Home Price Index (HPI).

Only two of the 29 markets, New York and Las Vegas, reported deceases in prices. Prices in New York were down 2.85 percent in May compared to April, and Las Vegas reported a 0.76 decrease in May compared to April.

The cities with the largest price gains in May, compared to April, were San Francisco (3.33%), Washington D.C. (3.27%) and San Jose (3.14 %).

Housing inventory also increased in the month of May, though at a slower pace than what was seen with earlier spring numbers. Seven of the 26 markets showed double digit increases in spring housing inventory on the 90 day average, with Boston having the largest gains with a 29.01 percent inventory increase.

Other cities experiencing double digit gains in inventory on the 90 day average were New York (16.45%), Washington D.C. (15.95%), Philadelphia (14.83%), Austin (14.81), San Francisco (13.76%), and Minneapolis (12.25%).

Phoenix suffered the largest decrease in housing inventory on the 90 day average at -15.25 percent, with Miami (-7.86%) and Tampa (-1.78%) the only other two cities experiencing a shrinking inventory.

Altos Research calls the current housing market the “Catfish Recovery” by saying, “Catfish spend their time moving slowly at the bottom of lakes and rivers bobbing up and down from place to place without a clear direction. Plan for prices over the long term to hit a bottom, rise a bit, sink back down, rise again—a pattern we expect with the housing market for several years. The housing recovery will take a long time and it is going to happen slowly.”

You can read Altos Research’s Mid-Cities Composite in its entirety here.

Tags: Altos Research, Mid-Cities Composite, median home price, housing inventory, spring selling season

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

June 6, 2011 (Jeff Alan)

Although home prices in the first quarter of 2011 show a double dip, the latest data from Altos Research’s Mid-Cities Composite shows signs of a strengthening spring market as median home prices increased from $440,194 in April to $444,273 in May 2011.

The new Altos Mid-Cities Composite examines an alternate set of smaller Metropolitan Statistical Areas (MSAs) across the country to counter the volatility seen in larger, mostly coastal cities in the Case-Shiller Home Price Index (HPI).

Only two of the 29 markets, New York and Las Vegas, reported deceases in prices. Prices in New York were down 2.85 percent in May compared to April, and Las Vegas reported a 0.76 decrease in May compared to April.

The cities with the largest price gains in May, compared to April, were San Francisco (3.33%), Washington D.C. (3.27%) and San Jose (3.14 %).

Housing inventory also increased in the month of May, though at a slower pace than what was seen with earlier spring numbers. Seven of the 26 markets showed double digit increases in spring housing inventory on the 90 day average, with Boston having the largest gains with a 29.01 percent inventory increase.

Other cities experiencing double digit gains in inventory on the 90 day average were New York (16.45%), Washington D.C. (15.95%), Philadelphia (14.83%), Austin (14.81), San Francisco (13.76%), and Minneapolis (12.25%).

Phoenix suffered the largest decrease in housing inventory on the 90 day average at -15.25 percent, with Miami (-7.86%) and Tampa (-1.78%) the only other two cities experiencing a shrinking inventory.

Altos Research calls the current housing market the “Catfish Recovery” by saying, “Catfish spend their time moving slowly at the bottom of lakes and rivers bobbing up and down from place to place without a clear direction. Plan for prices over the long term to hit a bottom, rise a bit, sink back down, rise again—a pattern we expect with the housing market for several years. The housing recovery will take a long time and it is going to happen slowly.”

You can read Altos Research’s Mid-Cities Composite in its entirety here.

Tags: Altos Research, Mid-Cities Composite, median home price, housing inventory, spring selling season

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.