Existing Home Sales Dip and Prices Grow Slower. The Housing Market Is Cooling.

Existing Home Sales Dip and Prices Grow Slower. The Housing Market Is Cooling.
·2 min read

Existing home sales dipped in August and median home prices grew at a slower rate, signs to the real estate sector’s top trade group that the housing market is finally cooling off after a year of frenzied buying. Numbers out Wednesday from National Association of Realtors show that existing home sales fell to a seasonally adjusted annual rate of 5.88 million in August from a revised 6.0 million in July. Competition among home buyers has been behind the skyrocketing prices, driving the annual growth rate to a high of 23.6% in May.

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