A report from the Washington Post. "If you’ve been distracted by the federal shutdown, political dysfunction, stock-market volatility and reports of rising mortgage rates, it wouldn’t be surprising if you concluded: No way is this a good time to even think about buying a house or putting one on the market. Things are too crazy."

"Consider: Inventories of unsold houses are growing significantly in many local markets. Home builders clearly have gotten the message and are lowering their prices in many areas. In the Washington-area market, nearly 23 percent of new homes got price cuts averaging 2.4 percent. In Miami, the average price cut was 5 percent on nearly 26 percent of the newly built stock; in Boston, cuts averaged 6.2 percent."

"That may sound ominous if you’re planning to sell and want or need to get top dollar, but think of it this way: Better to price your home realistically up front — at the listing stage — rather than have it sit unsold for an extended period or be forced to endure painful cuts."

From CNBC. "Real estate brokers are trying to figure out why sales of existing homes plunged in December. If anything, the drop may be due to the fact that home prices are actually falling in some areas, especially in the West, and in the rest of the nation the gains are shrinking. That makes it easier to afford a home, but less desirable if potential buyers are concerned that their new home’s value will immediately depreciate. No one wants to catch a falling knife."

The Wall Street Journal. "Home sales tumbled in December to their weakest level since 2015, ending a difficult year at a new low and offering fresh evidence that the housing market could be in for a bumpy ride in 2019. December’s drop 'is much more precipitous than we thought,' said Cheryl Young, a senior economist at Trulia. She said the data help confirm the 'housing market’s postrecession zenith has come and gone.'"

"The decline in December sales was broad, with Seattle, Portland, much of California, Denver, Maryland, Delaware and the Philadelphia area experiencing double-digit declines, according to an analysis by Lawler Economic and Housing Consulting."

The Tampa Bay Times in Florida. "Sales of single family-homes in the Tampa Bay area plunged in December as prices again rose. In one good sign for buyers, though, the supply of available homes continued to inch up, with Pinellas County having its largest supply in at least three years."

"For the second consecutive month, Pinellas had a three-month supply of homes. That was the most since December 2015, the furthest back that records go. 'Florida’s housing sector is continuing to show signs that inventory levels are finally easing in many local markets after being constrained for a long time,' said Eric Sain, president of Florida Realtors. 'Improving inventory and interest rates that, though rising remain historically low, offer a good opportunity for homebuyers who have been waiting on the sidelines.'"

From Broker Pulse on New York. "Manhattan’s luxury market saw the slowest third week of January since 2012. According to a report from Olshan Realty, twelve contracts above $4 million were signed last week. The most expensive contract signed last week was PH54 at 56 Leonard Street for $22 million, $8 million less than the original asking price and over $1 million below what the owner paid."