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The price of a Columbus home rises to $ 310,000 but signs of slowdown indicate

Homes in the Columbus area sold for an average of 12 days in May.

The Columbus housing market remains under fire in May but a growing number of signs indicate a slowdown ahead, especially in Northeast Ohio.

Columbus-area home sales jumped 7.5% in May from last year, but prices rose another 13% from a year ago. The average selling price of a Columbus-area home in May was $ 310,830, up from $ 275,000 last May.

Homes sold after an average 12-day listing, down from 14 days a year ago, and well below historical norms.

More:Want to buy a home? Here are 10 tips for navigating the difficult housing market

Nationally, however, home sales fell 3.4% in May, the fourth consecutive month of declines, adding to the growth indication that the housing market is slowing as mortgage rates continue to rise.

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