Realtors Association president says housing market is slowing

(West Des Moines, IA) — The president of the Iowa Association of Realtors says the record-setting housing market has slowed some — but it is far from hitting a full stop. Byron Menke of Treynor says the nearly eight percent drop in homes sales in May was the signal of a slowdown that he says was not unexpected. He says, “the demand is still extremely high (and) inventory continues to be short,” but adds that the recent slowdown has made things a little more manageable. The median sale price in May was up nearly 13 percent — showing the impact of the high demand and low supply.