A report from CNBC on California. "The San Francisco Bay Area home sales numbers are in for August, and they continue to weaken. Total sales for the Bay Area fell nearly 10 percent compared with August 2017, according to CoreLogic. Sales did increase 1.8 percent compared with July, but the total volume was nearly 18 percent below the August average going back to 1988 and the lowest since August 2011. Sales activity for the summer, June through August, was the slowest in seven years."

"San Francisco sales were down 6 percent annually. San Francisco was ranked the most overvalued housing market in the United States, according to UBS' just-released Global Real Estate Bubble Index 2018."

"The supply of homes for sale is starting to rise. San Jose saw a 67 percent increase in listings in the third quarter of this year compared with the same quarter in 2017, according to Trulia. Inventory in Oakland was up 26 percent annually."

The Bay Area Newsgroup. "Matt Rubenstein, an agent with Compass Real Estate in Contra Costa County, said he’s seeing more price reductions, an indication that some sellers are being too aggressive in a strong market. 'I’m not calling that a buyer’s market,' he said. 'I’m calling it a level market.'"

"Scott Bailey sold the family home in August, about a year after Bailey’s father died. Bailey’s parents bought their three-bedroom, two-bath house in West San Jose in 1967 for about $28,000. 'It was just going to be too expensive to keep,' said Scott Bailey, 62, now living in Everett, Wa."

"The home listed for $1.7 million and drew 300 people to an open house. It sold last month for $2 million. Bailey had been watching the market closely. 'Things were about to peak,' he said. 'We were lucky to get what we got.'"

From Realtor.com. "Tennis great Serena Williams is serving up a price cut on her Bel Air estate. The mansion in the Stone Canyon area of Los Angeles initially landed on the market about a year ago for $12 million. It's now listed for $10 million."

"So why has the mansion been on the market for nearly a year? 'The grounds are fantastic,' says Marshall Peck of Douglas Elliman. 'But there are many homes for sale on Stone Canyon.'"

"The tennis legend purchased the 6,100-square-foot home in 2006 for $6,612,000. So even with the recent price cut, Williams stands to come out a winner."