Fed finds cooling in housing market - click here for full story
By MARTIN CRUTSINGER, AP Economics Writer
1 hour, 9 minutes ago
WASHINGTON - The economy continued to grow in the early fall despite a "widespread cooling" in the once-hot housing market, the Federal Reserve reported Thursday.
The Fed's latest survey of business conditions around the country found the economy expanding with growth being described as "moderate or mixed."
However, the report found there was a distinct slowdown in housing with the majority of the Fed's 12 regions reporting lower asking prices for homes, a softening in sales and rising inventories of unsold homes.
1 hour, 9 minutes ago
WASHINGTON - The economy continued to grow in the early fall despite a "widespread cooling" in the once-hot housing market, the Federal Reserve reported Thursday.
The Fed's latest survey of business conditions around the country found the economy expanding with growth being described as "moderate or mixed."
However, the report found there was a distinct slowdown in housing with the majority of the Fed's 12 regions reporting lower asking prices for homes, a softening in sales and rising inventories of unsold homes.
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