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Housing Market Shows Signs of Slowing

The national median price for owner-occupied homes declined 1.1 percent. Meanwhile, the median price for investment homes rose.

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According to HomeUnion, an online real estate investment management firm, data from March of 2016 shows that the U.S. housing market has begun to slow. The national median price for owner-occupied homes declined 1.1 percent to $234,300. Meanwhile, the median price for non-owner-occupied homes, or investment homes, rose 8.5 percent to $192,600.

“We are seeing a degree of volatility in the traditional housing market, especially on a regional level,” says Steve Hovland, director of research for HomeUnion. “We expect price growth for owner-occupied homes to be tempered, even as we enter the typically frenzied spring home-buying season. Housing affordability has pushed beyond incomes in many areas of the country, limiting demand at today’s prices despite low interest rates.

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