Housing demand could cool in August, report says

housing coolingBy Laura Kusisto and Kris Hudson | The Wall Street Journal

Home prices are at all-time high, but buyers may be growing weary of record-high home prices and start pulling back on purchases later this summer, according to a new report by a national real-estate brokerage.

The number of homes sold in July is expected to grow by 14.3% over the previous year in July, according to Redfin. In contrast, it anticipates that home sales will grow by 4.6% compared to the previous year in August.

According to Redfin, the median sales price will grow by 4.3% in July and by 2.2% in August.

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