Signs of a Slowdown Emerge in U.S. Housing Market    
Industry News
By Marty Graham and Jim Christie, Reuters

On a rolling San Diego street, where home prices have doubled in three years, real estate agent Shawn Ommid kept a quiet vigil, chocolate chip cookies at the ready, waiting for buyers.

By Sunday afternoon, the cookies remained plentiful and prospects were scarce, with few turning up to tour a two-story tract house in a neighborhood known for its striking canyon views and equally stunning home prices of around $800,000.

It is a scene that is playing out across some of the hottest property markets from California to Florida.
Inventories of unsold homes are rising, buyers are turning cautious, and, in some cases, prices are slipping after a period of explosive gains, analysts and real estate agents said.
Source: Reuters
Story Options

Copyright © 2000-2020 Kollect Systems
All trademarks and copyrights on this site are owned by their respective owners.