Hot Housing Market Is Finally Cooling Down

The Wall Street Journal's quarterly analysis of 26 U.S. metro areas reveals falling prices and rising inventories in a number of overheated housing markets.

1 minute read

July 21, 2006, 2:00 PM PDT

By Alex Pearlstein

"The housing market continues to weaken in much of the country as inventories of unsold homes rise and many sellers cut their asking prices."

"There is no sign of a broad collapse of housing prices about a year after the once-hot coastal markets entered a long-anticipated cooling phase. But the general level of prices is edging down in some areas and leveling off in others, while the supply of homes for sale keeps rising."

"The number of homes on the market in Orlando, Fla., for example, is nearly five times the year-earlier level, while the inventory has quadrupled in Phoenix and Tampa, Fla., and nearly tripled in the Washington, D.C., area."

[Editor's note: Although this article is only available to WSJ subscribers, it is available to Planetizen readers for free through the link below for a period of seven days.]

FULL STORY: For-Sale Signs Multiply Across U.S.

Thursday, July 20, 2006 in The Wall Street Journal

Housing United States

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