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US housing market hitting slowest period of year

from By Archita Datta Majumdar

The U.S. housing market is headed for its slowest period of the year. Online search indicators have shown that the peak the housing industry enjoyed until early summer has shown signs of decline. Since July, the market has dwindled to below-average sales. The National Association of Realtors, which announced a 3.3 percent gain in pending sales in July, has warned of a fall to come. The pattern is that of a typical seasonal slowdown, but what is worrisome here is that the housing market is still not equipped to deal with these fluctuations. more

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