The drop in pending home sales is an affirmation that we are experiencing a modest slowing in the housing sector.

November's numbers confirm that housing activity has peaked and is now slowing.

The housing sector has likely passed its peak . . . and the boom is winding down to an expansion.

The housing sector has likely passed its peak. The boom is winding down. I expect continued softening in housing if rates remain at these levels or go higher.

Many of our hot housing markets are transitioning from a sellers' market to a buyers' market.

Housing activity has peaked. There are no balloons popping.