SWM Housing Market Slows Down In July

The housing market in Southwest Michigan slowed down a bit during the month of July. The Southwest Michigan Association of Realtors says the market has been setting records for several months, but in July, there was a decrease in the number of homes sold and in the average selling price. The number of houses sold dropped 5% from June, and 4% from July of last year. Meanwhile, the average selling price fell 12%. Nevertheless, the regional market this year has shown strength, with the total number of homes sold up 8%. The association of realtors says it remains a good time to sell, as the median selling price in July set the record as the highest for the month since 2006.