A report from the Davis Enterprise in California. "As autumn begins, the supply of existing Davis homes for sale remains limited — but with a few more homes coming onto the market as the peak summer season fades into the past. Prices for existing homes remain high, and homes priced below $800,000 continue to sell pretty quickly, but in some cases homes are beginning to sell for a bit below the asking price, and competitive bidding involving multiple offers on the same property is becoming less common."

"Longtime real estate professional Claire Black Slotton said 'The market appears to be doing it’s normal fall thing. Inventory is up a bit and some sellers are beginning to make price reductions in order to attract the next buyer. The number of multiple offers has slowed.'"

"Cory Gold, a longtime broker said 'I believe we are seeing a slight shift in the market where buyers are going to have more options, meaning more inventory. The typical August slowdown actually started in July this year. We are not seeing a buyers market, as inventory is still very low compared to what we would consider a ‘balanced’ market.'"

"'Over the last few months, I have seen fewer multiple offers and we are now seeing a significant number of homes selling below the asking price. Price reductions are making their way into the market again. Fall is going to be a great time for buyers to get into the market, sellers will have to be more realistic when pricing their homes.'"

"Here’s an update on current new home projects: The Cannery is getting closer and closer to build-out. Of the 457 for-sale homes, fewer than 150 are still available at this point. A goodly portion of the remaining units are single-story flats in the four-story Gala section (starting in the $400s); some large homes, including several in the $1m range, in the Sage section; and some mid-range sized homes in the Tilton section (starting in the $800s)."

"Of the 35 residences in the Willow Creek Townhomes project, five are still for sale (in the upper $600s), and a 'builder’s closeout' promotion is underway. At Grande Village, of the 41 lots, 13 are still available, and a number of homes have been completed. At the Villas at El Macero, five of the 16 luxury condominium homes (starting in the mid $800s) have been sold."

From the Valley Road Runner. "The median sales price for a detached single-family home in North San Diego County reached $755,000 in August 2018, which was 9.4% higher than the $690,000 price in August 2017, according to the North San Diego County Association of Realtors."

"For attached homes, NSDCAR said the median home price in the North County was $445,500 in August 2018, which was a 2.3% increase compared to the $435,000 price the same month a year ago. The August 2018 figure for attached homes is lower than the year-to-date median sales price of $459,100."

"'The economy is under scrutiny, but certainly not deteriorating,' said Carol Farrar, 2018 NSDCAR president. 'While some housing experts are starting to look for recessionary signs like fewer sales, dropping prices and even foreclosures, others are taking a more cautious and research-based approach to their predictions. Housing starts are performing admirably, prices are still inching upward, supply remains low and consumers are optimistic.'"

"Closed sales totaled 920 detached units in August 2018, which was a 15.3% year-over-year drop compared to the 1,086 units sold in August 2017. For attached home, closed sales totaled 348 in August 2018, a 15.3% decline from August 2017’s total of 411."

"The number of detached property listings on the market in August reached 1,445, a 10.4% increase from the 1,309 properties listed in August 2017. For detached properties, 568 were listed in August, a 16.4% increase from the 488 properties listed in August 2017."