From the WSJ:
Sales of previously occupied homes slowed in October as inventories of unsold properties continued to grow, the National Association of Realtors reported.
The trade group said home sales -- including single-family, townhouses, condominiums and cooperatives -- set a seasonally adjusted annual pace of 7.1 million units last month, down 2.7% from September. Inventories increased 3.5% to 2.9 million homes.
"Housing activity has peaked and is coming down a bit," said David Lereah, the association's chief economist, "and we expect further cooling in the coming months." He predicted that the boom will settle down gently as interest rates continue to climb, raising the cost of buying a home.
Some other housing watchers are more worried about the outlook.
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