A report from Kenneth R. Harney. "For years since the end of the financial crisis, prices in most markets have increased steadily — by single digits annually in most places, double digits in cities like Seattle, San Francisco, Denver and others that have vibrant employment growth plus persistent and deep shortages of homes for sale. Sellers were in the saddle. That was then. This is now."

"Sales of existing and new homes have been sagging for half a year. That's despite growing inventories of homes available for sale in some areas, reversing the boom-time pattern of bidding wars that pushed prices to record levels and drove buyers batty."

"Sellers are cutting their list prices. According to research by realty brokerage Redfin, 28.7 percent of prices of homes listed for sale in major markets during the month ending October 14 saw reductions. That's the highest share of homes with price drops recorded since Redfin began tracking this metric in 2010. One of the key reasons for the cuts: Demand by shoppers is down by more than 10 percent compared with a year earlier."

"Consumer psychology is shifting as well: A national survey by Fannie Mae released last week found that the net share of Americans who believe it's a good time to buy has fallen to just 21 percent, while the net share who say it's a good time to sell is 35 percent."

"There are other signs of cooling underway that could be cited, but you get the point. If you're a seller, the key to your transaction will be getting your list pricing right. If you're a buyer, take your time but keep in mind: If you shop diligently, this fall could be a smart time to catch a deal — a marked-down price on the house you really want."

From the Maryland Daily Record. "The median sale price for homes in the Baltimore area remained essentially flat in October year over year, while sales volume noticeably declined from 2017. Only Baltimore and Baltimore County median home prices increased year over year."

"Howard County experienced the steepest decline of the eight Maryland jurisdictions tallied in the report. The suburban jurisdiction’s median home price fell 7.4 percent from $404,990 last year to $375,000 in October. Anne Arundel, Carroll and Harford counties also experienced year-over-year decreases. The drops in median price ranged from 1.2 percent to 2 percent."

"In Prince George’s County the median home price dropped from $285,000 last year to $280,000 last month, a nearly 2 percent decrease. The number of homes sold last month in Prince George’s County increased by .5 percent from the same month a year ago. While sales volume dropped by 11.4 percent in Montgomery County."

"New listings in both counties were up by sizable margins. There were 1,407 new listings in Montgomery County, a 9.3 percent bump from October of last year. In Prince George’s County new listings were up 7.3 percent, with 1,328 properties coming on the market."

From Seattle PI in Washington. "October was an interesting month for Seattle’s condominium market. Sale prices continued to rise while inventory skyrocketed and sales activity slowed. Counter to our historically seasonal downturn, Seattle’s inventory of available condos for sale that are listed in the Northwest MLS rose 258.2% to 677 units. This does not include unlisted new construction properties so the actual inventory is a little bit higher."

"The burgeoning condo supply and slowing sales activity resulted in a significant change to the inventory supply rate, which rose to 3.5-months of supply based on pending sales transactions. That moves us from a seller’s market towards the normal market territory. The last time we had this level of supply was just before the market bottomed in early 2012."

"Sales activity was tempered with 195 units going under contract into pending sales status in October. That reflected a 31.3% year-over-year and a 12.6% one-month decline, respectively. Though we historically experience declining sales volume towards the end of the year."

"There were 195 closed sales last month as well, exhibiting a one-year decline of 32.1% but an improvement over the prior month by 14.7%. Since closings typically follow pending transactions by around 30 days, we can expect the lower number of sales in October will result in fewer closings for November."

"The Seattle condo market is shifting and being impacted by more than the normal fluctuations we usually experience during the fall season. Approximately 90% of the condos for sale are resales; a significant number of owners are exiting the market."

"There could be a number of reasons for that – economic outlook, moving up to single family homes as they are becoming more affordable, relocation or those seeking to sell before values start dropping."

"The increased inventory may hamper the sales velocity that we’ve been used to over the past several years. That’s not good news for seller, but it is great for buyers who will have more choices and potentially better value."