A report from CNBC. "A sizable drop in mortgage interest rates didn’t do much to help home sales in April, as high prices and tight supply at the low end of the market continued to sideline buyers. 'We see that the inventory totals have steadily improved, and will provide more choices for those looking to buy a home,' said NAR’s Lawrence Yun, adding that sellers have to realize that price growth has moderated. 'When placing their home on the market, home sellers need to be very realistic and aware of the current conditions.'"

From The Mortgage Reports. "According to a new report from Trulia, the nation’s housing market is shifting toward the buyer. The news is particularly good if you’re looking in a high-priced area."

"'This national shift from a sellers’ market toward a buyers’ market is also playing out locally in the most expensive neighborhoods within a metro area,' reported Trulia economists Felipe Chacon and Elliott Deal. 'On average, in ZIP codes where home values are highest, more homes are being sold further below their asking prices and selling more slowly than they would otherwise.'"

"Conditions in 50 of the 100 largest metros 'are now shifting in favor of buyers, a tenfold increase from just five metros a year ago.' But Vegas buyers win out the most. According to the report, 'Las Vegas shifted the most away from sellers and toward buyers over the past year, from the third-worst market for buyers a year ago to the fifth-best today — a 93-spot swing.'"

The San Francisco Business Times. "Home values have likely peaked in the Bay Area, according to Zillow’s April housing numbers. This could mean that the solid year-over-year gains the market has experienced might be a thing of the past. In San Francisco, home values have fallen in each of the past five months and are down quarter-over-quarter, indicating the start of a longer-term trend, according to the report."

"In San Jose, values have fallen in each of the past six months, as that city remains the only major market where home values are also down year-over-year, falling 2.7 percent from last year. The report stated that with the Bay Area leading the way, home values nationally have declined month-over-month for the first time in more than seven years, breaking a streak of 85 consecutive months of gains that brought home values to record highs."

"But it’s far from all gloom and doom for the market, according to other experts who weighed in. 'As far as I can tell, the most expensive housing market in the country has stopped, for the time being, getting more expensive,' Patrick Carlisle, chief market analyst with Compass, told the Business Times. 'I'm hearing that the S.F. market is pretty damn competitive right now with very low inventory and multiple offer bidding — though not quite as crazy as last year — so we really need to see the results for the rest of the spring selling season, which will show up in sales closing in May and June.'"

"However, Carlisle said the picture in the San Jose — or Santa Clara County generally — is clearer: That market appears to have peaked in 2018 and has seen significant declines in median sales prices since last summer."

From Seattle PI in Washington. "According to the latest Northwest Multiple Listing Service report, home prices for completed sales in April (the last month for which they have data) rose 2.4% across the 23-county system. But six counties — including King — did see year-over-year decreases. And condos within King County in particular saw a fall."

"While across the MLS counties condo prices dipped 3.2% as inventory jumped 75% compared to the same time last year, within King County those prices dropped about 9.6%, with inventory surging 122%."

"'Interestingly, condominium prices in King County continue to fall as the number of properties on the market continues to climb rapidly,' James Young, director of the Washington Center for Real Estate Research at the University of Washington, said in the report."

"According to Young, that may have something to do with the new accessory dwelling unit decision that the Seattle City Council has under review. 'Anecdotally, this corresponds with possible regulatory and tax uncertainty signaled for private landlords in Seattle ahead of local government elections. Given this situation and significant supply in the multifamily sector coming online, many smaller landlords may be selling to lock in capital value growth and exit the rental market ahead of the November election,' he said."

From Forbes on Florida. "The recent $11.5 million sale of a six bedroom mansion at 2914 Washington Road broke the record for the most expensive single family home transaction in West Palm Beach by $6.5 million. But it took the seller almost a year and half to find a buyer. Moreover, the waterfront property sold at 15% below its initial preconstruction price of $13.5 million in 2017."

"The amount of time the house was on the market and the price drop is a reflection of the luxury single family home market in Palm Beach County, where mansion buyers are taking longer to find the right deals. During a recent visit to Palm Beach, Liam Bailey, head of global research at London-based Knight Frank, said rising interest rates have contributed to a slower growth in prime property prices. 'The beginning of the end of ultra-low interest rates … is beginning to put pressure on [residential property] prices in many markets,' Bailey said."

"He added that wealthy individuals are taking longer to make home buying decisions because there is an oversupply of luxury properties. A Douglas Elliman 2019 Q1 Palm Beach report shows single family home sales have declined as the inventory has risen sharply. For instance, 19 luxury single family homes sold in the first quarter compared to 22 during the same period last year."

"And the number of active listings increased 15% to 180 compared to Q1 2018. The average sales price in the luxury market is $8 million, a 38% drop compared to the same quarter in 2018, according to the report. The average time on the market is 106 days and there is 34 months of supply of luxury properties, including condos."