Housing Market's Cool Down Continues

The housing market is continuing its cooling trend, according to Zillows May 2019 market report, with the typical U.S. home worth $226,800. This marks a 5.4% increase from just a year ago, though a 0.1% dip from April 2019, according to the report.

"The for-sale and rental housing markets continued to move in opposite directions in May, with home value growth showing gradual slowing and flattening and rent growth showing modest acceleration after a brief period of declines," according to Zillow.

"Both are signs of a normalizing market after years of rapid home value gains."

The company also found that rent growth is speeding up as home value growth slows. The U.S. Zillow Rent Index climbed 2.7% in May 2019.

Housing inventory is also reaching a more stable point with inventory on the rise in some of the nation's largest metros.

"For-sale inventory grew the most in Las Vegas (up 41.8% year-over-year), San Jose (40.6%), Denver (25%), Seattle (23.9%) and San Francisco (21.4%)," according to the report.

"Instead of moving decisively in one direction or another, over the past 8-12 months inventory has been bouncing up and down by small amounts."

To learn more about the current cool down in the housing market, click on the image above.

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