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The housing market may be finally slowing down, according to new data from Redfin.

Redfin is reporting a four-week decline in pending sales and a drop in its demand index, which is down 12% from its late-March peak. Still, pending home sales were up 29% year over year. But seasonally adjusted pending sales are down 9.7% from their peak four weeks ago, which Redfin attributes to people opting to pause their home search and take advantage of the holiday weekend.

 

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