A report from Curbed San Francisco in California. "Earlier this month, UCLA’s Anderson School of Management and law firm Allen Matkins released their survey of California developers and found that those with a stake in building housing are feeling gun shy about the Bay Area. 'In the last six months, Bay Area developers have pulled back on new development, and half of the panelists stated that they were not planning to start a new development in the next 12 months.'"

"The survey authors cite market fluctuations as one potential explanation for this caution: 'Home prices are falling in the Bay Area and the inventory of homes listed for sale has grown.'"

From Curbed Boston in Massachusetts. "Boston-based developer Weiner Ventures has nixed plans to build a tower over the Massachusetts Turnpike. 'A combination of factors led us to this decision,' Weiner said in a statement. 'While disappointing to have to make such a decision, we believe it is the correct one.'"

The Idaho Press. "The median home price in Ada County dropped in July — but only slightly. The median price was $349,900 in July, according to a news release from Boise Regional Realtors. That’s a 9.7% increase from July of last year, but it’s a 1.3% drop from June. 'One reason we’re seeing month-to-month price fluctuations is changes to the ‘mix’ of existing home sales by price range,' according to the release."

"Every month since April, the housing market in Ada County has seen an increase in inventory. That trend continued in July."

The Bangor Daily News in Maine. "After nearly two years on the market, a Gilded Age waterfront mansion in Bar Harbor located along a stretch of shoreline formerly known as 'Millionaire’s Row' is scheduled to be auctioned off next month. East of Eden, originally built in 1910, initially was listed for sale in late summer 2017 for $15 million but has since had its asking price reduced to $12.5 million."

"The family decided to put the house up for auction rather than adjust the list price, according to Susan Ferrante-Collier, the listing agent for the estate. Similar to how fine art is sold, that’s becoming a more common practice for selling luxury properties, she said."

From Fauquier Now in Virginia. "A well-known horse farm just south of Middleburg sold last week for $4.77 million. The 302-acre Hickory Tree Farm includes a four-bedroom manor house with pool, five barns, five other houses, a three-quarter-mile training track and historic Burrland Hall.
The property went on the market in May 2017 with an asking price of $8.95 million, according to Realtor.com. The list price dropped to $7.95 million in September 2017."

From South Utah Now. "The housing market has rebounded. With the economy on the rise over the past two years it has clearly been a sellers’ market. But signs are beginning to show that as the economy stabilizes and the stock market begins to level out that the housing market will begin to favor buyers. Already home construction has been on the rise in southern Utah."

"6. Don’t buy a house you can’t afford. House broke is a fun little term that describes the state buyers find themselves in when they buy a house at the peak of their pre-approved amount and now they can’t afford to furnish or heat it. If a bank approves the loan it must mean that the buyer can afford it thought, right?"

"Not necessarily. Banks have a very arbitrary view of a buyer’s financial situation. They determine how much a buyer can afford to pay a month by taking their income and subtracting their debt. Buyers should take the prerogative and determine how much they can comfortably pay toward a mortgage every month independent of a loan officer. ‘Just because you can doesn’t mean you should’, applies in this situation."

The Wall Street Journal. "Karen Labatto waited years for this. Ms. Labatto, who bought a house in Southampton’s village area 10 years ago, has been looking for a larger, move-up house ever since. She found the property she wanted in the Estates neighborhood. Originally priced at $15 million, its price had been lowered to just under $11 million by 2017. Two years of negotiation ensued."

"Then, things started to change, said Ms. Labatto’s agent, Erica Grossman of Douglas Elliman.New York’s Suffolk County, which includes the tony Hamptons, is today among the most dramatic luxury buyer’s markets in the country. Since the second quarter of 2018, inventory in the Hamptons is up 84.2%, according to a recent Elliman report."

"That created opportunity for Ms. Labatto, who finally closed on her target property in October for $8 million."

"The term 'buyer’s market' can be confusing: It refers to places where there is more supply than demand, but doesn’t necessarily mean places where property is cheap. On Maui, for example, there is an overhang of inventory over $1 million. In wealthy vacation-home markets, like Maui, the Florida Keys or the Hamptons, it can take a long time before a pile up in inventory starts leading to price reductions, because many homeowners paid cash and don’t feel pressure to sell, said Will Langley, principal broker at Berkshire Hathaway Keys Real Estate."

"However, an aging buyer’s market should eventually lead to a downturn in prices. 'In six months, you’re going to start to see price reductions,' said Mr. MacLaughlin, in Maui, particularly in condos built in the 1970s and 1980s that need work—which is expensive on a Hawaiian island."