A report from Bloomberg. "The luxury real estate market in 2018 wasn’t great for many people. Sellers in cities as far apart as London, Los Angeles, and New York found themselves facing daunting macro- and microeconomic headwinds, while buyers, on the other hand, had to contend with overpriced stock and rising interest rates—and taxes."

"Possibly the greatest threat to sellers’ home prices is excessive supply. 'We forecasted last year that in 2018 there would be about 3,000 new condominium units coming' in New York City, says Jonathan Miller, the president of the appraiser Miller Samuel Inc. 'Every year the cumulative inventory keeps rising,' Miller says. He estimates that by the end of 2019, there will be almost 8,000 units on the market; only about 2,000 of those are expected to sell. And that’s just new apartments—resales add significantly to the total."

"The inventory issue is widespread. 'The national statistics pivoted about six months ago, where we started to go negative,' Miller says. 'Not a sharp correction or anything, but inventory is rising. And what happens? Prices slide or at least slow their rate of growth.'"

"All of this means that 2019 is shaping up to be a depressing, albeit probably not disastrous, year for home sellers. 'Probably, 2019 will be more favorable to buyers,' says Jon Woloshin, the head of real estate for UBS Global Wealth Management’s chief investment office . Miller agrees: 'And some people don’t know it yet. Those people are the sellers.'"

From CNBC. "The U.S. housing market has become so cloudy that Lennar says it can’t give investors guidance for 2019. 'Due to continued softness and uncertainty at this seasonally slower time of year, we are deferring guidance for fiscal year 2019 until the markets further define themselves,' Lennar’s executive chairman Stuart Miller said in a press release."

The Dallas Morning News in Texas. "North Texas homebuilders eased off construction in the fourth quarter as some buyers took a break from the housing market. 'The builders said that the higher mortgage rates were making the affordability issue more pronounced,' said Ted Wilson with Dallas housing analyst Residential Strategies. 'Some builders said their sales were off 15 to 20 percent. And our finished home inventory numbers were up a bit.'"

"About 6,400 finished and vacant new houses were on the market in the D-FW area at the end of the year, almost 8 percent more inventory than in December 2017."

The Colorado Springs Gazette. "Though the pace of price hikes and sales slowed in the second half, the local market should remain healthy heading into the new year and even begin to favor buyers a little more after years of sellers having the upper hand, some real estate agents say."

"'If things are overpriced, then they’re just not selling,' said Donna Major, board chairwoman of the Pikes Peak Association of Realtors. 'Buyers, I think, are wising up and not willing to overpay for a house. They’re willing to wait.'"

The Review Journal on Nevada. "Las Vegas’ housing market ended 2018 with a big drop in sales from a year earlier and a sharp rise in availability. A total of 2,142 single-family houses traded hands in December, down 6.5 percent from November and 18.2 percent from December 2017, according to the Greater Las Vegas Association of Realtors."

"Also, 6,615 houses were listed without offers at year’s end, down 5.5 percent from November but up 72.9 percent from the end of 2017."

From My Northwest on Washington. "As 2018 rolled to a close, the housing market in the Northwest saw a noted increase in eager sellers. That was rounded by a median closing price for houses of just $639,000 in King County, down from the 2018 high for the county of $726,275 back in May."

"Meanwhile in King County, condo listings have quadrupled in the last 12 months, as buyers look for alternatives to pricier houses. 'Buyers should act now, act deliberately, act decisively, and act in conjunction with an experienced real estate professional,' advised Dick Beeson, the principal managing broker at RE/MAX Northwest in Gig Harbor."

From Blabber Mouth on California. "According to Realtor, one of two properties METALLICA guitarist Kirk Hammett once called home in Sea Cliff, a neighborhood in northwestern San Francisco, California, had its asking price reduced from $13 million to $11.9 million. The home, located in an exclusive enclave by the beach, first came on the market last year."

"Hammett first listed the home in 2017 for $16 million, then dropped the price a couple times before pulling it off the market."

"Asked by Atlanta, Georgia's Rock 100.5 radio station if it ever gets old being a millionaire, Hammett responded: 'You know, it just comes with a whole bunch of different problems, bro. And you know what? I'm not very good with saving money. [I spend it on] comic books and movie posters and horror stuff and guitars. I live my life. I just f***ing live my life. And I'm generous. The people who are around me experience what I'm experiencing while I'm experiencing it.'"