After peaking in March of this year, month to month home price gains have been slowly decreasing. This might mean that rising home prices have finally hit their limits, reaching a point where no one can afford to buy.
CNBC also reports that annual gain, which has been rising every month this year, finally stabilized in July at 6.2 percent. This comes after home sales have been falling for several months.
Even buyer competition, which remains incredibly high, may be finally cooling. A recent report from real estate brokerage Redfin showed that while annual price gains were still high, monthly gains over the summer were flat. That may be the result of fewer bidding wars.