A report from Bloomberg. "The U.S. housing market has already begun to lose its momentum as rising mortgage rates have cut demand in cities where prices ran too hot for too long, such as Denver, Los Angeles, San Francisco, and Seattle. If borrowing costs keep climbing next year, eventually real estate’s law of gravity will kick in—and sellers’ expectations will have to come down. 'There are always winners and losers when prices move down,' says National Association of Realtors Chief Economist Lawrence Yun."

"In September, sales of new and existing homes plunged 18 percent in Southern California from a year earlier. They fell 19 percent in the San Francisco Bay Area, to the weakest pace since 2007. In San Francisco, 27 percent of listings meet the affordability threshold. In the Boston metro area, only 52 percent of listings are affordable to residents with the median local income."

From Curbed Boston in Massachusetts. "Average condo prices declined annually during the third quarter in several Boston neighborhoods—including Charlestown, Beacon Hill, the South End, and Fenway, according to a wide-ranging market analysis from Berkshire Hathaway Home Services Warren Residential."

"As for the year-over-year declines during the third quarter, they were only really significant in Fenway/Kenmore and Downtown Boston. The average sales price for a condo was down 14.27 percent, to $611,304, in the former; and 6.99 percent, to $1,378,764 in the latter."

The Denver Post in Colorado. "Average rents on single-family homes in metro Denver barely budged during the third quarter and are moving lower in many parts of the state, according to Real Property Management Colorado and RentRange."

"'Rental rates across the Denver metro area continue to rise although the gains are more modest than we’ve seen in some time,' said Greg Bacheller, co-owner of Real Property Management Colorado."

"Bacheller notes that all the new apartment supply could be diverting some tenants who might have otherwise gone into existing homes. Declining home rents in Denver tend to line up with where the most new apartments are coming online."

"A relative lack of affordability is making the region less attractive, and net migration to the state is slowing, meaning a smaller pool of new tenants. Metro Denver home rents are about a third more expensive than the nation as a whole, but incomes aren’t a third higher."

"To that list, he adds a new restraint on rent increases. As the housing market cools, some sellers who can’t get the price they want are starting to rent their homes, he said. 'That is also driving up supply,' Bacheller said."