In a strategic move to strengthen its analytical capabilities, Compass, a prominent player in the real estate sector, has welcomed Mike Simonsen, the visionary behind Altos Research, as its new chief economist. This appointment signifies a commitment to delivering more profound insights into the intricate dynamics of the housing market, empowering agents and clients alike with enhanced data comprehension. Simonsen's extensive background in interpreting complex housing metrics will be instrumental in navigating the current real estate climate.
The announcement of Simonsen's new role at Compass comes as the real estate industry faces a period of significant change. Previously, Simonsen founded Altos Research, a company renowned for its real-time housing market data, which was acquired by HW Media, the publisher of HousingWire, in 2022. He served as the president of Altos until May 2025. His unique ability to translate intricate data into actionable intelligence has made him a respected figure in the field.
Robert Reffkin, the CEO and founder of Compass, expressed enthusiasm for Simonsen's arrival, highlighting his remarkable talent for simplifying complex housing data. Reffkin emphasized that securing Simonsen was an immediate priority for the company, recognizing the invaluable contribution he would bring to their operations. Simonsen’s expertise is expected to significantly enhance Compass's capacity to provide its network of agents and their clientele with clearer, more actionable market intelligence.
In his new capacity, Simonsen will be tasked with clarifying housing market analytics for agents and their clients, ensuring they have a real-time understanding of trends. He will also collaborate with Compass to refine its market reports and augment its data-centric content. Simonsen articulated that his lifelong professional objective has been to demystify the housing market, a mission he feels aligns perfectly with Compass's expansive reach and considerable agent base, which totals 37,000.
Simonsen views his new position as an opportunity to amplify his work, reaching a broader audience and providing agents with the tools to effectively communicate market conditions to buyers and sellers. He looks forward to leveraging Compass's considerable scale as the nation's largest brokerage by sales volume to uncover even more comprehensive data and insights, stating his ambition to expand his market discussions with greater depth than ever before. With the real estate industry navigating a sustained period of subdued home sales, Simonsen anticipates his role will be crucial in helping stakeholders interpret market shifts. He acknowledges the compelling nature of the current economic climate, with consumers and professionals eager to understand market direction, the timing of a potential rebound in home sales, and the broader economic landscape, including recessionary risks. He describes this as an exceptionally opportune moment to be immersed in housing market analysis and the industry at large.
Mike Simonsen's integration into Compass marks a significant step towards demystifying real estate trends. His expertise will be pivotal in assisting agents and consumers in making informed decisions by dissecting complex market data into comprehensible insights. This strategic addition underscores Compass's dedication to equipping its vast network with superior analytical resources, fostering a more informed and responsive approach to the ever-evolving housing sector.