Hot U.S. Housing Market Cooled Some in August

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The hot U.S. housing market is showing signs of cooling off. Prices in August eased from near-record highs, and home sales dropped.

The turbocharged housing market started to slow in August, as buyers took a step back from what has been a competitive and expensive time to buy a home.

Existing-home sales slipped 2% in August from the prior month to a seasonally adjusted annual rate of 5.88 million, the National Association of Realtors said Wednesday. August sales fell 1.5% from a year earlier.

 

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