The once-overheated housing market continues to cool as rising interest rates reduce demand.

After years of sharply rising prices, the U.S. housing market is seeing a reversal as costs drop and demand slows. As Lizzie Kane reports for Bloomberg, “A measure of prices in 20 large US cities in August fell 1.3% on a month-over-month basis, the most since March 2009, according to the S&P CoreLogic Case-Shiller index.”
According to Kane, “While prices are still up year-over-year, they’re slowing at a record pace. A national measure of prices increased 13% in August from a year earlier, down from a 15.6% gain in July, the biggest deceleration in the history of the index.”
Demand continues to slow, too. “Sales of existing homes fell for an eighth straight month in September, according to National Association of Realtors data, while new home construction also dropped in September, according to recent government data.” Meanwhile, new home construction has slowed as builders cancel deals to adjust to the slowdown.
FULL STORY: Housing Market Hits Brakes as US Prices Fall Most Since 2009

Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Ken Jennings Launches Transit Web Series
The Jeopardy champ wants you to ride public transit.

Washington Legislature Passes Rent Increase Cap
A bill that caps rent increases at 7 percent plus inflation is headed to the governor’s desk.

From Planning to Action: How LA County Is Rethinking Climate Resilience
Chief Sustainability Officer Rita Kampalath outlines the County’s shift from planning to implementation in its climate resilience efforts, emphasizing cross-departmental coordination, updated recovery strategies, and the need for flexible funding.

New Mexico Aging Department Commits to Helping Seniors Age ‘In Place’ and ‘Autonomously’ in New Draft Plan
As New Mexico’s population of seniors continues to grow, the state’s aging department is proposing expanded initiatives to help seniors maintain their autonomy while also supporting family caregivers.
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