Not all housing markets are experiencing the untethered home list price growth that San Jose is currently enjoying. New research from Trulia shows that in six of the nation's largest 100 markets, median listing prices are plateauing or falling year-over-year.
In the cases of Sarasota, Fla., (up 0.7 percent), and Honolulu, (down 1.4 percent), Trulia says that the change in median listing prices may signify a stabilization "after a long bull run." Homeowners are not to worry, says David Weidner, managing editor for Trulia’s housing economics research team, as the data does not suggest home equity will go down, MarketWatch reports. “A market may see cheaper listings because newer cheaper homes have been built, but overall home values may still be rising."
The national median list price now rests at $273,663, which is roughly 20 percent higher than in March 2015. Over that time, the pace at which home list prices have increased has risen nationally. Between 2015 and 2016 the national median listing price only rose 4.8 percent, but over the last year it increased by 7.4 percent. And housing analysts have grown increasingly concerned with how sustainable this boom is.
