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A million dollar home in Dorchester?!?!
A file photo

– News covered by Quincy Quarry News with commentary added.

 

Housing market slows as rising prices outpace wages.

 

The New York Times has reported that even in fast-growing cities or otherwise hot local economies such as Denver, New York and Seattle, selling prices for residential housing are rising more slowly and asking prices are being slashed.

 

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Is the bull is taking a nap?
A Stevan Noronha image

Similarly, steady increases in mortgage rates over the past year or thereabouts have also impacted the cost of home ownership in the wake of what has been a long bull market for residential real estate.

 

While the Quincy Quarry real estate desk does not see a crash in residential real estate prices on the near horizon, at least a pause is only reasonable to expect.

Source: Housing Market Slows, as Rising Prices Outpace Wages

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