The housing market cools a bit after a warm year.

FOX's Steve Taylor reports from Washington:

There are fewer signatures on contracts to buy homes. The National Association of Realtors says its index of pending home sales is down about a percentage point in the newest numbers, which cover November.

That index is at its lowest level since January. Even with this drop, the index is almost three percentage points higher than it was a year ago.

Home sales peaked at the end of summer. After that, home inventories grew smaller and prices went up.

In Washington, Steve Taylor, FOX News.