The housing slowdown is here

Data: Mortgage Bankers Association; Chart: Nicki Camberg/Axios20% of builders lowered prices on new homes in July, according to survey data from housing market research firm Zonda.

. Boise, Denver, Salt Lake City and Tacoma, Wash. all saw the most price cuts in June, according to Redfin data she cites."Activity is now in free-fall, inventory is rocketing, and prices have started to fall," Ian Shepherdson, chief economist at Pantheon said in a note. He's been calling this slowdown for a while.

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