A report from the Wall Street Journal. "U.S. home sales slumped in June as home prices for major West Coast cities declined for the first time since 2012, ending the spring selling season with a thud. 'Prices have dropped in Silicon Valley and sellers just aren’t used to the concept that [prices] can go down,' said Ken DeLeon, founder of DeLeon Realty in Palo Alto, Calif. 'There’s just this malaise buyers had of, ‘I feel like it’s gonna drop further.’"

"A deepening slump in expensive coastal markets also shows little sign of reversing. The median price of a home fell in San Jose, Seattle and Los Angeles in June compared with a year earlier, according to Redfin. For San Jose, that was the seventh month of annual price declines. The slowdown in the West Coast markets now spans all price points, including starter homes, which had been the tightest segment of the market. In San Jose, inventory for homes in the bottom-third price tier nearly doubled in June compared with a year earlier, while prices dropped 3.8%, according to Redfin."

"While price declines are concentrated on the West Coast, other costly markets such as New York, Boston and Denver area also weakening. Denver saw the second-largest increase in starter homes for sale in June, according to Redfin, at nearly 63%. 'We are entering a buyers market hard,' said Steve deGuzman, an agent at REX Homes in Denver. 'Values accelerated so quickly we don’t have a way for the first-time buyer to enter the market.'

The Palm Beach Post in Florida. "Palm Beach County home prices retreated in June after jumping to a post-crash high in May. The median price of houses sold by Realtors last month was $356,990, down from May’s $364,900 and up less than 1 percent from a year ago. The dip might ease an affordability squeeze that’s hampering buyers, but it’s frustrating for sellers. 'This is a welcome relief for buyers and a caution to sellers who may be overpriced,' said Jeffrey Levine, President of the Realtors of the Palm Beaches and Greater Fort Lauderdale."

"Home sales fell in June, typically the busiest buying season in Palm Beach County. Realtors counted 1,692 transactions last month, down from 1,805 in June 2018. It was the slowest June since 2014, when the county’s housing market was emerging from a wrenching collapse. Nearly every economic indicator supports strong demand for homes. 'We should be throwing a huge party, and of course we’re not,' says George Ratiu, senior economist at Realtor.com."

"The disconnect has proven disconcerting for sellers. Douglas Rill, owner of Century 21 America’s Choice, said he’s listing Palm Beach County homes for owners who are confused about why so few offers are coming in. 'They’re saying, ‘What are you doing wrong?’ Rill said. 'I have properties that I think are priced right, and it’s just not happening. It’s a little frustrating.'"

The Fresno Bee in California. "The once red-hot California housing sales market is officially now 'weak,' state analysts say, but the year-long flattening does not necessarily suggest the state is headed toward an economic downturn. In a brief report issued Monday, the state Legislative Analyst’s Office weighed in on the latest California home sales trends, noting that homes sales statewide in June were down from the same month last year, and notably lower than historic norms."

"The state analysis, based on data from Zillow, the California Association of Realtors and Moody’s Analytics, estimated 25,900 non-distressed home sales statewide in May. That is below the 28,000 sales number from June of 2018, and below the 'long-term historical average of 31,400 sales per month.' Similarly, sales numbers are low in recent months in Sacramento, and sales prices have flattened as well."

From ABC 7 News in California. "If you want to buy Joe Montana's mansion in Calistoga, now's the time. He's reduced the sale price from $49 million down to $29.8 million."