A press release from Redfin. "Only six of the 85 largest metro areas Redfin tracks saw a year-over-year decline in their median sale price, the biggest of which was once again in San Jose, where home prices were down 4.9 percent from a year earlier. Oxnard, CA (-4.8%), Oakland, CA (-2.0%), Seattle, WA (-0.5%), Lake County, IL (-0.1%) and Los Angeles, CA (-0.1%) rounded out the list of metro areas with price drops."

"'As national home price growth stabilizes, we’re continuing to see supply and demand dynamics play out differently in affordable inland markets than in expensive coastal markets,' said Redfin chief economist Daryl Fairweather. 'Expensive markets like the Bay Area and Seattle are still feeling a chill with falling prices and many more homes for sale than there were a year ago. Unlike their inland counterparts, buyers in these once-hot West Coast markets are less likely to feel the urgency to buy while rates are low and before prices rise more.'"

"Home sales fell 8.0 percent in June compared to a year earlier. This was a sharp reversal from May, when home sales increased 2.2 percent from a year before. The decline was broad—80 of the 85 metros tracked by Redfin saw year-over-year home sales fall in June. With prices growing, flat inventory, and homes selling as fast as ever, we were surprised to see that the number of sales fell as much as it did in June. The 8 percent drop was the fourth largest decline in eight years."

"The three metro areas with the biggest increases in the number of homes for sale were all in California: San Jose (+42.8%), Oxnard (+26.1%), and Oakland (+25.7%)."

The Westchester Journal News in New York. "The housing market in the Lower Hudson Valley region has shown a slight slowdown in the second quarter, and experts blame the decline on the new tax law that limits the total state and local tax deduction."

"'There was a slight decrease in activity and sales for the first time in quite a while,' said Ron Garafalo, president of the Hudson Gateway Association of Realtors. 'We’ve seen a larger level of decrease in the very high-end market.'"

"Joseph Rand, managing partner with Better Homes and Gardens Rand Realty, said the Tax Cuts and Jobs Act is causing the slump. But there's a bright side to this condition, Rand said. 'The prices for high-end homes are really desirable right now. The prices are really good in terms of the values you get,' he said. 'There’s a lot of inventory out there. It’s a really good time to buy high-end homes.'

The Tampa Bay Times in Florida. "For years, it has been one of the priciest homes on the market in Tampa Bay — a 20,519-square-foot estate with a movie theater, ice cream shop and 14 tumbling waterfalls. Several months ago, owner William Baumgart thought he finally had a buyer. A company headed by a Manatee County woman agreed to pay $9.75 million for the house plus memorabilia."

"Just before the sale was due to close, a dispute arose. The company sued Baumgart and the deal fell through. That should not have been surprising, given the background of the company's president, Lori Ann Nademus. At the time Nademus was under contract for Baumgart's mansion, her own Lakewood Ranch house was in foreclosure. She faced a $536,360 judgment in California. And she had declared bankruptcy six times in the previous eight years."

"But Nademus came out well in the aborted transaction. Baumgart got the case dismissed — by paying her $300,000 'to get out of my life,' he said."

"In Tampa Bay's luxury real estate circles, what happened with the Baumgart estate has sparked talk and concern. Agents with high-end listings say they often are asked to show multimillion-dollar houses to people who may not have the means to buy them. Realtors Ed Gunning and Mary Pond have fended off requests to show a $22 million Thonotosassa estate, the priciest Tampa Bay house now for sale. Among those eager to tour it were some people from South Florida."

"'The agent said, 'We drove over from Palm Beach looking for a horse farm,' Gunning recalled. 'Nobody drives from Palm Beach looking for a horse farm in Thonotosassa, that's total nonsense. They can no more buy a $22 million house than I can.' Nonetheless, Gunning and Pond asked for a financial statement. They got one — in Chinese."

"On May 28 — the day before the scheduled closing and the day before her house was again set for foreclosure auction — Nademus declared bankruptcy for the seventh time. She listed assets of $216,275, mostly the value of her house. Debts? Nearly $700,000."