A report from CNBC. "Each new housing data point is worse than the last, and they are prompting a leading industry analyst to say the market is in a correction. 'I definitely think we’re in a correction,' said John Burns, CEO of John Burns Real Estate Consulting. 'Sales, according to our survey last month, were down 19 percent year over year. ... I would call that a correction.'"

"Single-family housing starts fell more than 13 percent year-over-year, according to the U.S. Census. Building permits, an indicator of future construction, were down nearly 2 percent."

"A new survey from the NAHB, which has yet to be released, found 41 percent of builders reported reducing prices as a sales incentive for July through October Oct 2018, up from 26 percent a year earlier."

From the Associated Press. "U.S. developers broke ground on more homes last month, but the increase occurred entirely in apartments. The construction of new single-family houses fell. Sales of new homes plummeted nearly 9 percent in October and the number of newly built, unsold homes sitting on the market has climbed to its highest level since 2009."

The Wall Street Journal. "At the end of its next meeting Wednesday, Fed officials are set to raise their short-term rate for the ninth time since they began raising it from near zero in December 2015. The Fed has moved its benchmark short-term rate up to a little over 2% since 2015, remarkably little action when considered against history."

"The housing market has been among the first sectors of the U.S. economy to slow. 'All of the market was priced as if a 4% mortgage would last forever,' said Glenn Kelman, chief executive at Redfin. 'Consumers had forgotten what a more normal mortgage rate is.'"

"In California, more than three of every seven homes for sale in October had their asking price reduced at least once, the highest such share in seven years, according to the California Association of Realtors."

The San Francisco Chronicle in California. "A mid-century marvel of 11,270 square feet on two parcels, this Fairfax estate has lingered on the market for over 100 days. Now, after a $400,000 price drop, it could be yours for $3.895 million."

"This home is among a select few homes that for whatever reason has fallen through the cracks of an otherwise heated, seller's market in the Bay Area.  And if its the house for you, you can also consider that this time (the holidays) is often particularly challenging for sellers."

From The Columbian in Washington. "Clark County real estate activity slowed down in November, according to the latest numbers from the Regional Multiple Listing Service’s Market Action report."

"Although new listings did decline from October, they were still 13.6 percent higher than in November 2017 and 23.8 percent higher than in November 2016, according to local real estate broker Mike Lamb, which resulted in a higher number of active listings at the end of the month than in any of the previous three years."

"'Listing activity also slowed in November, but not as much as is typical for this time of year,' Lamb wrote. 'In fact this was the best listing activity in November this decade.'"

"The cooling off of most market numbers in November was in keeping with typical seasonal patterns that often cause markets to slow down at the end of the year, Lamb said. He added that some real estate agents have expressed concerns that the decline might go beyond typical seasonal changes."

"'The contrast from the frenetic pace of last spring appears to have led some to fear we may be seeing a more significant shift (in the market),' he wrote."

"In his own assessment, Lamb said that it’s too soon to know whether the November declines point to a more dramatic shift in the market, but he characterized the increase in inventory and decrease in pricing as good news, allowing home buyers to find more options which should eventually stimulate more sales."

"'So while we may not have gotten everything we wanted for Christmas,' he wrote, 'at least we didn’t get a lump of coal.'"