House Price Growth Slows

House Price Growth Slows 

U.S. house prices grew at the slowest rate in thirty years in the second quarter, according to a closely-watched report from the Office of Federal Housing Enterprise Oversight , providing further evidence of a cooling US housing market.

The OFHEO speculated that the possible causes of slowing growth included higher interest rates and rising inventories of homes. High rates of house price appreciation in recent years have spurred increased construction. Coupled with slower sales, this has led to higher inventories of unsold homes which are likely to constrain further appreciation rates.

Get the complete story on slowing house prices here…