A report from Mansion Global. "With a slowdown anticipated for luxury real estate markets in 2019, it’s possible that home flipping, too, could begin to taper off. ' Buyers and sellers are adjusting their expectations,' said Javier Vivas, director of economic research at Move.com . 'We’re already seeing a lot of that with price reductions, and increases in the amount and types of price cuts happening above the $1 million mark.'"

"Santiago Arana, a broker in Los Angeles, said he expects no big surprises in 2019. 'People are talking about a big bubble, but I don’t think it will be like 2008—the fundamentals are too strong for that,' he said. 'We want an adjustment [from the faster pace of previous years.] That’s healthy.'"

"The trend of lower-price homes being more frequently flipped may ring true in the New York City area: an April 2018 report from the Center for NYC Neighborhoods found that house flipping was common in the city’s most affordable neighborhoods, and that 34% of homes flipped in 2017 were in foreclosure."

From Bankrate. "Many large housing markets are feeling a chill as price growth slows dramatically and homes linger on the market longer, says Adam Smith, president of the Colorado Real Estate Finance Group in Greenwood Village, Colorado. Potential homebuyers who are crossing their fingers and waiting for home prices to fall further may miss the affordability boat if mortgage rates creep up again."

"'I don’t think we’re going to see a bottom like this where interest rates and home prices will be lower than they are today,' Smith says. 'Waiting a year (to buy a home) could be a six-figure financial decision in some major metro markets.'"

"A severe shortage in both new construction and existing housing stock means homebuyers won’t see softer home prices in the foreseeable future, Smith adds. 'We’re not in a housing bubble, and we have a legit supply-and-demand problem on our hands for years,' Smith says."

The Marin Independent Journal in California. "The December 2018 median sales price in Santa Clara County was $1,150,000, down 8 percent from the November median of 1,250,000. The December median was 11.5 percent lower than the December 2017 median of $1,300,000."

"Silicon Valley Association of Realtors president Alan Barbic said the drop in the median home price will bring more balance to the market and open the door to serious buyers. Noting market conditions vary depending upon location, Barbic stressed that arriving at the correct price is key to a successful sale."

"'A sales price can be compromised when there are price reductions. Sellers should seek the advice of a Realtor who is knowledgeable about local market conditions, and who can assist them in arriving at the right price for their home,' advised Barbic."

The Mountain Democrat in California. "Since the first of this year about half of El Dorado County’s 500 listings have had price reductions. Sellers were likely too optimistic as to the price a buyer would pay and decided to reduce their price in order to attract an offer. Last year during the same time, not a single listing had a price reduction."

"There are other signs that the seller’s market is over. During January of 2018 there were 166 closed sales in El Dorado County with a median selling price of $498,000. This January there will be less than 130 closed sales with a median selling price of $462,000. With fewer sales and declining prices, sellers need a different strategy to sell their home at the highest price possible."

"It didn’t require a marketing genius or a shrewd negotiator to get a home in escrow last year. Stick up a sign, input the listing information into the MLS and wait for the offers to roll in. Listing agents had it pretty easy when two-thirds of all listings sold within 45 days and most sellers receiving full price or better. County prices and the seller’s market peaked in May of last year. Since then, both sales and prices have been decreasing."

"The median selling price in El Dorado County at the beginning of 2018 was $465,000. Five months later the median was $550,000. The sticker-shock scared off buyers. Real estate agents sensed market hesitation but most sellers kept looking in the rear-view mirror, refusing to recognize the change. Now they are acutely aware that buyers are not as plentiful as a year ago and are trying to attract buyers with better pricing. That’s a good start."

"The listed price should be based upon where the market is going not where it has been. This applies whether home values are increasing or decreasing. Sellers need to get in front of a declining market by pricing their home slightly below, not above recent similar sales."

"Six months ago a home with walls and a roof would attract an offer. Today, average is no longer acceptable. Home stagers are once again busy."

"The first offer is usually the best offer. Six months ago, two-thirds of all listings sold at list price or better. This last month only 8 homes sold at list price and there were no sales above the listing price. In a declining market, sellers should not hold out for a better offer but instead work with the first reasonable deal on the table."

"Lose the controlling attitude. Sellers and their listing agents will need a more conciliatory approach to negotiating with skittish buyers. Gone are the days of sellers-win, buyers-lose, negotiation tactics. Sellers must think win-win. Try to find common, reasonable solutions to price and terms."