U.S. home price gains slowed for the fifth straight month in August as higher mortgage rates have lowered home sales. Sales of existing homes have dropped for six straight months, and sales of new homes have fallen for the past four. Home price increases have run ahead of wage gains for five years and appear to have left many would-be buyers on the sidelines. But price gains have slowed compared with a year earlier in 14 of the 20 cities tracked. That suggests that price gains will likely slow further in the coming months.

Source: ABC News October 30, 2018 13:07 UTC