Home prices rose rapidly through the first half of the year, signaling a rebound and a healthier housing market. But now there is increasing evidence that home prices may be cooling off. According to Trulia’s Price Monitor, asking prices were up 3 percent quarter-over-quarter in September, the smallest gain since February. Jed Kolko, Trulia’s chief economist, said asking prices are the first indicator of where home sale prices are headed and they point to a slowdown. According to Kolko, two thirds of the largest metropolitan areas are experiencing cooling prices and 11 of the 100 largest cities are actually seeing prices begin to slip. Rising mortgage rates, expanding inventory, and less investor activity are among the reasons for the slowing price increases, Kolko said. Year-over-year, home prices were up 11.5 percent, but that number is expected to shrink in coming months. More here.