A report from the Vancouver Sun in Canada. "Expect to see developers offering incentives — like a Langley company's promise to pay your first year's mortgage — as the Lower Mainland's housing market softens. Realtor and analyst Steve Saretsky said cities farther from Vancouver seem to be 'cooling a little quicker' due to the one-two punch of a sales drop and inventory spike. Langley was the region’s strongest condo market just one year ago, with year-over-year price growth peaking at 51 per cent in December 2017. But in the months since, inventory has jumped 387 per cent and sales have declined."

"Saretsky said the trend is concerning, although he cautioned the glut is exaggerated because 2017 saw inventory hit record lows. 'Some of last year’s demand was built on speculation,' he explained."

"The trend seems to be hitting Abbotsford and communities farther east as well. In October, home sales plummeted 50 per cent year-over-year in the Fraser Valley, while prices also dropped."

From Castanet in Canada. "The Penticton real estate market is in the midst of a 'correction' following two record-breaking years, according to new statistics from the South Okanagan Real Estate Board. Penticton real estate has also been hamstrung by the cooling of the white-hot Vancouver market."

"'I’ve had people that have bought here and expected a really quick sale in Vancouver, and that hasn’t happened,' said SOREB president Dori Lionello. 'Vancouver homeowners are used to listing their homes and then setting a date to look at offers. Now they are listing their homes and a month has gone by and they are taking another look at their price.'"

"'A little less of the speculation and trying to get over-market value. That’s really slowed down, people are being more realistic,' she said. 'The realtors are not necessarily trying for that extra four per cent. We are still busy, the numbers are just coming down to reality.'"

The Daily Telegraph in Australia. "Shattered families have been selling their homes for up to $134,000 less than they paid for them in the Sydney regions worst affected by the ongoing housing downturn. The losses were mostly from those selling upper market houses purchased within the last one-two years and in areas heavily supplied with new housing."

"These homeowners struggled to find buyers who could afford to pay the excessive prices they once paid as banks put a stranglehold on lending. They also faced stiff competition from other sellers in their area due to the high supply of housing, forcing them to offer big discounts to get buyers interested."

"Real estate analyst Andrew Wilson of My Housing Market said the homeowners most vulnerable to the falls were recent buyers who were forced to sell by divorce, recent unemployment or other financial hardships. 'They will have to accept whatever price they can get,' he said."

"Homeowners in the construction hot spot of Canterbury were most likely to make losses on their sales, additional data showed. Nearly 9 per cent of sellers in the Canterbury council area resold their homes for less than they paid during the three months of winter, with the median loss $134,000."

"Most of the unlucky sellers had purchased their homes about two and a half years ago. Recent sales included a unit at 314 Canterbury Rd which sold in August for $650,000 — $73,000 below the $723,000 paid in February 2017. In the nearby Auburn area, 8.6 per cent of sellers resold their homes at prices below what they paid, while in the Bankstown, Ashfield, Ryde and Hurstville council areas it was 6-7 per cent of sellers. The median losses ranged from about $30,000 to $55,000."

"Transactions included the August sale of a three-bedroom house on Heber St in Hurstville for $74,000 below the price paid in December 2014. A nearby home on Beronga Ave sold in September for $10,000 less than its 2015 price. A three-bedroom house on North St in Ryde recently sold for $1.22 million, well below the $1.51 million paid in 2016."

From Domain News in Australia. "There were tense scenes at auctions across Sydney on Saturday as buyers feared overpaying for properties while vendors were unwilling to budge on reserve prices."

"Some agents found themselves in stand-offs, they said, with bidders and sellers determined to secure the best deal for themselves. One buyer likened the process of negotiating prices in a cooling market to 'catching a falling knife.'"

"In Sydney’s south a termite-ridden property, a deceased estate, struggled to sell under the hammer. Eventually the sole registered bidder of the auction also had to bid against themselves to walk away with the keys. The three-bedroom house on 64 Harris Street in Sans Souci had a price guide and reserve of $1.8 million throughout the campaign."

"But selling agent Lisa Sherry of McGrath Sans Souci said many interested buyers were 'waiting for it to pass in so they could negotiate.' A opening vendor bid of $1.6 million started the auction followed by $1,615,000 offered by the sole registered party. It eventually sold for $1,665,000 — $135,000 below reserve."

"'[The result is] disappointing and obviously I feel for the owners, the beneficiaries. What it was worth last year is not what it is worth today,' said Ms Sherry. 'It’s a sign of the times, this price may look good in six months’ time if the market keeps declining.'"