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<![CDATA[ US housing market shows signs of cooling:

The US housing market showed signs of cooling as sales of existing homes eased last month, according to the National Association of Realtors.

The NAR said there was a “moderate decline” in both single-family and condo sales.

Total existing-home sales – including single-family, townhomes, condominiums and co-ops – were at a seasonally adjusted annual rate of 7.09m units in October, down 2.7 per cent from September’s 7.29m. Sales were 3.7 per cent above the 6.84m-unit level in October 2004.

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Own a home? Settle in, because the gains you’re used to are going to return to the historical norm.

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