Home sales cool dramatically

Here are some points from the article

“In data released Tuesday, prices declined in more than 61 of the 275 cities tracked by the Office of Federal Housing Enterprise Oversight. And the deceleration has been fast: The agency reported that the decline in quarterly appreciation was steepest in more than three decades.

Nationally, at the end of August, sales of existing homes were down 11.2% from July.

The national numbers mask how much better — and worse — things are in local markets.”

We should have the local numbers any day now and I will post those.