A report from the Bay Area News Group in California. "Home sales flagged 14.3 percent Santa Clara County and 11.8 percent in San Mateo County. Median sale prices fell by 11.1 percent to $1.2 million in Santa Clara County and 2.4 percent to $1.5 million in San Mateo County from the previous March. The median sale price for an existing homes in the nine-county region was $860,000 in March, down from $865,000 the year before and from a peak of $935,000 in May, according to CoreLogic."

"Prices fell in 1.1 percent to $603,000 in Contra Costa County, and dropped 6.3 percent to $1.2 million in Marin County. Overall transactions dropped 14.2 percent. Home sales flagged 14.3 percent Santa Clara County and 11.8 percent in San Mateo County."

The San Francisco Chronicle. "The price on a vast expanse of bucolic California coastline, only 40 miles south of San Francisco, has been cut by $6 million. The 414-acre Bolsa Point Ranch was originally listed for $25 million in August 2018; the new price is $19 million. The property was originally listed for $35 million in 2017 by Sotheby's and never sold."

"'The property sits in a rare location and is very special,' says realtor John Ward of California Outdoor Properties, who is co-listing the property with Cornerstore Realty. 'That given, we believe the original listing price was still a bit high, as this could potentially be a second home for someone, so we think the asking price needs to be under $20 million.'"

The Orange County Register. "The main reason for last month’s price dip was fewer sales at the high end of the market, skewing the statistics downward, CoreLogic reported. For example, high-cost Orange County and pricier new homes both made up a smaller proportion of total sales."

"'It’s a mix issue — that’s all it is,' said Christopher Thornberg, founding partner of Beacon Economics. 'The stock market’s back. Interest rates are down. The economy’s still growing … prices always fall in the face of severe economic circumstances. Right now we don’t have that.'"

"Home prices have softened across the board as sales slackened. As a result, more home sellers are cutting their prices. Zillow reported that 15.5% of listings in Los Angeles and Orange counties had price cuts last month, vs. 11.6% in March 2018. In the Inland Empire, 15.9% of sellers reduced asking prices last month, compared with 13.6% a year earlier."

"'Populations in L.A. and Orange counties have just stopped growing. Essentially all the growth is in the Inland Empire,' added Richard Green, director of USC’s Lusk Center for Real Estate, citing 2018 U.S. Census data released recently. 'I’m not surprised the overall median dropped. The center of gravity is moving east … because homes are so much cheaper than on the Pacific Ocean.'"