The housing market in Philadelphia is cooling quickly with the number of home sales dropping 33% year over year to 5,201 in November, the lowest level since 2015, the Philadelphia Business Journal reports. Each of the seven Pennsylvania and Delaware counties in the Philadelphia metro area saw total closed sales fall more than 30% compared to last November, according to data from real estate research firm Bright MLS. Bright MLS chief economist Lisa Sturtevant categorized the housing market as being "in a reset period."