Action 9: Housing Market May Be Slowing Down

When it comes to real estate, the nation is definitely seeing a slow down.

Reports show that sales of new and pre-owed homes were down by 6.5% during May when compared to the same period last year.

And "For Sale" signs are popping up all over the place. There are almost a third more homes on the market now than a year ago.

But experts say it is by no means a crash. Especially in uptown Charlotte, for example, where 11 row houses were snapped up before the foundation was even laid.

Most markets across the country are seeing an orderly slow down from the red hot growth they've seen during the past five years.

Rising interest rates are cooling buyer interest, but not too much.

Most homeowners can expect to see their homes' value continue to rise, according to analysts.

But that growth will be between 3 and 6 percent per year, instead of the double digit growth many have seen during the past five years.

Some markets where speculators grabbed up properties looking to make a quick buck could see home values drop.