A report from Mansion Global. "The gap between homes’ listing prices and sales prices is widening in a number of markets. The California Association of Realtors, for instance, found that the state’s sales-to-list-price ratio hit its lowest point in 20 months in October. A large disparity between listing and sales prices can indicate that sellers are increasingly out of step with a changing market, and it may be time for a reality check—as well as discounts on listing prices."

"'We often see houses listed with the expectation of sellers that pricing has been continuing upward, and a lot of times, they price their homes by extrapolating continued upward market movement,' said Paul Habibi, professor at the UCLA Ziman Center for Real Estate. 'But once the market stalls out, those houses sit on the market for longer, there’s a scarcity of buyers, and lower bids. Sellers start to lower their asking prices or else accept offers below list.'"

"However, real estate analysts say, a decrease in sales-to-list-price ratios does not forebode a significant downturn. 'If you look at the broader economy, the fundamentals are still strong,' said Daryl Fairweather, chief economist with Redfin. 'The GDP is growing, and unemployment is low. Sales prices are still growing. In order for it to be a real reason to worry, prices would have to start going negative.'"

"The hot Seattle real estate market seems to have reached a turning point, with the average home selling for 0.6% below listing price in October, the first time prices were below asking since 2014."

"'Prices have gone up so much recently in Seattle that buyers have reached a point where they’re saying they’re not going to accept these,' Ms. Fairweather said. 'And with mortgage interest rates going up, more people are thinking of renting instead of buying.'"

"Seattle is not the only market experiencing a slowdown in sales and sales prices. In Los Angeles, too, 23.8% of sellers sold their homes for below the listing price this September, while the median home price in Los Angeles County saw a 3.6% gain, the smallest in three years."

"'We’ve had double-digit annual price increases in several of the years after the recession,' Mr. Habibi said. 'Now we’re seeing the market start to slow down because the pace of annual increases is generally unsustainable at that rate.'"

"Third quarter market reports also reflected a cooling of home sales in Manhattan. The borough is experiencing its most significant slowdown in a decade, with sales declining by 11% compared to quarter three of last year, according to Stribling & Associates. As in Seattle and Los Angeles, this is leading to an increase in disparities between asking and sales prices."

"'On the whole, there is more negotiability, and an increase in inventory,' said Elizabeth Ann Stribling-Kivlan, president of Stribling & Associates. 'We had a real run, but we’re definitely seeing a slowdown. But I don’t think that’s a bad thing.'"

"Nationwide, home sales are decreasing, and property is lingering on the market for longer. But other real estate experts agree with Ms. Stribling-Kivlan that this does not presage a major economic downturn. Instead, they say, the trend represents a normalizing of the market after moving for several years at a frenetic pace."

"'There are consistent clues that we’re seeing a shift in the velocity of the market, and moving away from an extreme sellers market,' said Javier Vivas, director of economic research for Realtor.com. 'There’s some uncertainty that happens when you’re coming down from great heights. But those higher-priced, historically hot markets are really now getting more of that correction and moderation.'"

From the Foundation for Financial Education. "Over the last several weekends, the nonprofit, Boston-based brokerage Neighborhood Assistance Corporation of America (NACA) partnered with big banks and hosted events all across the country, attracting tens of thousands of attendees. These events are meant to help people apply for subprime home loans."

"But instead of being shocked by the fact that these risky loans are making a comeback, and rather than advising the public to proceed with caution, media outlets and financial institutions are looking at this resurgence as if it is somehow a good thing for the American economy. Many are even claiming that this time will be different than the last."

"During the housing crisis, Magdalene Altidor lost her home to foreclosure. And yet, she was one of the first people in line when NACA hosted an event in Miami. 'I left home, it was about 4 a.m. I’m ready to purchase a home,' she told CNBC. She later added that 'Homeownership is freedom.'"

"Bruce Marks, CEO of NACA, commented on these non-prime loans saying, 'It’s a national disgrace about the low amount of homeownership, mortgages for low- and moderate-income people and for minority homebuyers.'"