October sales of existing homes in the metro Milwaukee area slipped 5.7 percent, continuing a mild late-year slowdown in the local housing market.

A tapering off in price growth also may be occurring in some counties, data in a separate report shows.

Closings were held for 1,700 homes in Milwaukee, Ozaukee, Washington and Waukesha counties last month, or 14 fewer than in the same month a year ago, according to the Greater Milwaukee Association of Realtors.

It was the third consecutive time that year-over-year monthly sales trailed home purchases in 2017, the local Realtors report, which was issued Tuesday, shows.

The reduction in sales is due in part to a shortage of homes for sale in popular markets, especially houses costing $300,000 or less, the Realtors organization said.

Read more in the Milwaukee Journal Sentinel.