Home prices see biggest drop in 9 years, thanks to higher mortgage rates
The super-heated housing market is cooling off. Home prices have fallen about 6% since their peak in June. The pace of sales also fell for the 7th straight month.
Higher mortgage rates are throwing a bucket of ice-water on the super-heated housing market. Home prices in August were down about 6% from their peak in June, the biggest 2-month drop in prices in nearly a decade. The pace of home sales slowed for the 7th straight
