Bloomberg Businessweek

A Chill Creeps Into the U.S. Housing Market

Recent data presage what could be the broadest slowdown in years

They were fed up with Seattle’s bidding wars. The couple were only in their late 20s but had already lost battles for two homes and were ready to renew with their landlord. Then, in May, their agent called.

Suddenly, sellers were getting jumpy, Shoshana Godwin, a broker with Redfin Corp., told them. Homes that should have vanished in days were sitting on the market for weeks. There was a three-bedroom fixer-upper just north of the city going for $550,000, down from more than $600,000. They made an offer in early June and closed by the end

You're reading a preview, sign up to read more.

More from Bloomberg Businessweek

Bloomberg Businessweek4 min read
Pets Need to Calm Down, Too
Forecasters estimate that almost 10% of CBD could soon end up in products for Fido or Fluffy
Bloomberg Businessweek5 min read
Instacart Doesn’t Want ‘No’ For an Answer
Dozens of workers say the company’s app hectors them to take on grocery deliveries that aren’t worth their time, and that it doesn’t stop there
Bloomberg Businessweek8 min readFood & Wine
Maitre D’ Undercover
From celebrity seating warfare to dogs sipping Champagne, there’s never a dull moment at Nobu, America’s most famous sushi joint