A report from Michigan Live. "An Ann Arbor condo development just up the street from the University of Michigan Hospital is on hold after the developer had trouble pre-selling units. 'Morningside has ceased Nine99 Condominium marketing due to insufficient pre-sales,' said Ron Mucha of the Chicago-based development team behind the project. One-bedroom units started at $456,900, two-bedroom units started at $587,900 and three-bedroom units started at $823,900."

"It’s another sign the market for high-end housing in Ann Arbor may be cooling off, said City Council Member Jack Eaton, D-4th Ward, who voted against the development in 2017. There are lots of people who want to live in Ann Arbor, but only a limited number who can afford the prices charged for new luxury apartments and condos, Eaton said."

"'I think what we’re seeing is a real-estate slow-down,' Eaton said, noting the developer behind another project, Midtown Condominiums asked the city earlier this year to OK scaled-back plans with a 30% reduction in bedroom count."

From KOMO News in Washington. "King County was one of the few areas that showed a drop in home prices year-over-year in June, with a change of -2.8%. 'Clearly we now see that the market is moderating – that is we're definitely moving from a 'hyper-market' to one where a correction is underway compared to last year,' Mike Grady said in a Northwest Multiple Listing Service report."

From Community Impact in Texas. "Since mid-2017, the number of new homes available within Klein ISD boundaries has increased beyond the demand, according to a fall 2018 report by the Population and Survey Analysts demographics firm. As of June 2018, KISD had an 8.5-month supply of new housing stock—meaning that the number of new homes available or under construction would likely be occupied in 8.5 months—according to PASA. Four to eight months is considered a balanced market."

From Bisnow on New York. "A luxury apartment at Toll Brothers' Park Avenue condominium building has finally found a buyer. All it took was four years on the market and an epic price cut. The 7K SF apartment at 1110 Park Ave. sold for $17.25M, The Real Deal reports, down from the $35M it was originally asking. It was first listed in 2015."

"It is yet another example of the city’s ailing luxury market, which has been significantly oversupplied in recent years after vast amounts of high-end condominium development in the city. Many sponsors have been forced to cut their prices down and offer incentives to get deals over the finish line."

A press release from Redfin. "Twenty-eight percent of offers written by Redfin agents in San Francisco on behalf of their home-buying customers faced a bidding war in June, down from 65 percent a year earlier, according to Redfin. Nationally, just 12 percent of Redfin offers faced a bidding war in June, down from 52 percent a year earlier. Even as San Francisco saw more than a quarter of offers face bidding wars, just south in San Jose, only 6 percent of offers faced competition in June, down from 74 percent a year earlier. The rate also fell by 12 points from May to June, slightly more than the 9 point drop over the same period a year earlier."

"The least competitive market in June was Miami, where none of the offers submitted by Redfin agents faced competition. Dallas (5.3%) and San Jose (6.3%) were the second and third-least competitive."

The Orange County Register in California. "Homebuying in Irvine and Tustin fell 11% as Orange County sales stalled to the slowest pace since 2014. CoreLogic homebuying stats show May was the 10th consecutive month Orange County home sales failed to beat the pace of the year-ago period. It was also the slowest-selling May countywide in five years as sales ran 13% below their historical monthly norm. Countywide: $720,500 median selling price, down 2.6% in a year."

"Irvine 92612: $715,000 median, down 5.3% in a year. Irvine 92614: $725,500 median, down 11% in a year. Irvine 92620: $958,000 median, down 6.6% in a year. Tustin 92780: $585,000 median, down 11.4% in a year."

The Red Bluff Daily News in California. "Realtors in Red Bluff have noticed the housing market is returning to normal levels after an initial rush on home sales and rentals in Tehama County due to the Camp Fire and Carr Fire in 2018. 'Now we have arrived at a more level market,' said Elizabeth Gonzalez, Red Bluff Coldwell Banker branch manager. 'Right now, we have some price market corrections and price adjustments. Business is still good, but it has tapered off.'"

From DS News. "Auction.com’s first Client Summit Survey reported that 40% of its respondents revealed the western region of the U.S. is expected to see the largest rise of distressed properties in the second half of 2019. The southern region of the nation is expected to see the lowest increase in distressed properties at 17%. The survey added that 23% of respondents expect the midwest to see an increase and that amount drops to 20% for the northeast."

"According to the survey, the west region posted a 10% quarter-over-quarter increase in foreclosure starts in Q1 2019, higher than the nationwide 7% increase and tied with the south for the largest regional increase. 'Additionally, several bellwether markets in the West region posted year-over-year increases in foreclosure starts, including San Diego County, California, (up 16%); Salt Lake County, Utah, (up 11%); Denver County, Colorado, (up 20%); Snohomish County/Seattle, Washington, (up 36%); and Multnomah County/Portland, Oregon, (up 48%),' the report states."

"These responses represent a shift from trends earlier in the year, as foreclosure starts in the south increased 12% year-over-year in Q1 2019, according to the survey. 'The Q1 2019 year-over-year increase in the south region may be at least partially due to the lingering effects of the 2017 hurricane season, given the above-average increases in markets hit hard by the hurricanes: Harris County/Houston, Texas, (up 109%); Palm Beach County, Florida, (up 109%); Orange County/Orlando, Florida, (up 218%),' the report stated."