Housing had a great summer, but is the double-team threat of waning affordability and rising mortgage rates slowing activity?

From the start of 2013 through May, the housing market nationwide performed quite well, with a number of factors – from home sales, to contract activity, to home prices – all showing encouraging progress on the strength of record-low interest rates and record levels of housing affordability.

At the end of May, though, those trends began to halt somewhat. Interest rates spiked more than a percent, home price increases negatively impacted housing affordability, and though inventory decreases slowed, few new homes entered the market to appease buyers.

Carlos Garcia, a broker/vice president with The Keyes Company in Miami, said there has been a slowdown in his markets, but only in certain price ranges.

“Properties less than $300,000 are flying and not enough inventory of properly priced homes and town houses. Condos are plentiful and in areas of high construction like Brickell and Miami Beach there is plenty of inventory and new projects,” he said. “Properties between $300,000 and $800,000, though, have to be priced right, and less cash buyer’s in that market segment, the listings are taking longer to sell at this time.”

Using the latest Real-Time Fastest Markets report from Redfin, we took a look at some of the other more prominent housing markets in the nation, and looked at how many listings in August went under contract in less than two weeks; see our infographic below for what we found out.