From USA Today, “Existing home sales set another record in the third quarter of 2005, and prices jumped nearly 15%, but even the National Association of Realtors in its report Tuesday said the housing market will probably begin cooling after its five-year boom.”

“Sales of single-family homes and condos rose to a 7.24-million annual pace in the July-September quarter, up 6.5% from a year earlier. At the same time, 69 of the 147 metropolitan areas studied had double-digit price gains, as the median price of a single-family home climbed 14.7%, year-over-year, to $215,900.”

“There are scattered signs that the housing market has already begun to slow. Interest rates on 30-year fixed-rate mortgages are now running about 6.3%, compared with 5.89% in the third quarter. The inventory of new and existing homes on the market is rising.”

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