A report from TC Palm in Florida. "The latest data on new home sales nationwide are not encouraging. The Commerce Department reported that new home sales declined 8.9 percent in October on a seasonally adjusted basis, and sales have been falling at an annual rate since March. "

"Indian River County is doing better than the national average, but even here home sales are stalled somewhat, and listed homes remain on the market longer. "

"Is the world about to end because the housing market is faltering? Not likely. Although over-extended developers and banks will experience some difficulties, the price of homes will adjust downward and the excess inventories will simply be worked off at lower prices."

From MarketWatch. "The sharp downturn in the U.S. housing market over the past few months wasn’t much of a surprise, given how out of whack the market had become. The bigger question now for anyone interested in housing is: what next?"

"Every month, analysts at Credit Suisse publish a survey of real estate agents in about 40 metro areas. Their observations are occasionally local, but often big nationwide trends can be gleaned. Read on for selected commentary from Credit Suisse’s Monthly Survey of Real Estate Agents from November."

"Boston: 'Rising interest rates, but lower prices.' Columbus: 'No longer multiple offers on homes' 'Homes sitting on the market longer and having price drops'."

"Houston: 'Too many new homes being built.' Los Angeles: 'Fewer Chinese buyers in the area.' San Diego: 'Entering a market correction.' Tucson: 'New construction offering too many incentives.'"

From National Mortgage Professional. "For most homebuyers, purchasing a property no longer involves diving into a bidding war. According to new data from Redfin, 32 percent of offers written by the brokerage’s agents on behalf of their home-buying customers faced one or more competing bids in November, down from 45 percent one year earlier. This is the lowest level recorded since Refin began tracking data on offer competitions in 2011."

"One of the most dramatic examples of the disappearance of bidding wars was Seattle. During the spring, Redfin reported that three out of four offers in Seattle faced competition—but as of last month, only about one of every five offers in the Seattle area faced competition, the lowest rate of Redfin's largest markets."

From Bloomberg. "'Try before you buy' was once a persuasion tactic employed almost universally by down-market timeshare agents. Now, in a second-home market awash in inventory, developers are using it to induce buyers. Tina Necarson, vice president for residential at the hotel management company Montage International, has worked in timeshares, fractional ownership, 'and every sort of second-home venture imaginable,' she says."

"At the Montage Kapalua development in Maui, where homes go for $1 million to $20 million, Necarson’s team will arrange four-night stays that range from $500 to $2,000 per night and might include cultural heritage tours, luaus, private dinners, and spa treatments. She estimates that more than half of those who come for a trial stay become buyers."