IRVINE, Calif.—HomeUnion, an online real estate investment management firm and data provider on residential properties, said its analysis of March 2016 data has found a flattening U.S. housing market.
According to HomeUnion's research, the median price for owner-occupied homes declined 1.1% to $234,300. Meanwhile, the median price for non-owner-occupied homes, or investment homes, rose 8.5% 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, in a statement. "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.
The company said median sales price is based on transactions of single-family homes available through FHA financing (up to four units). Transactions above $30,000 were considered in the analysis.