A report from the Home Buying Institute on California. "Last month, we reported on the situation in San Jose. House values in that California city are dropping steadily. But the 'damage' is not limited to that one housing market alone. Similar trends are occurring throughout the region. There’s no other way to say it, and no reason to sugarcoat it. The Silicon Valley real estate market is crashing — at least from a price perspective."

The Mountain Democrat in California. "Our real estate market has been so good for so long that the recent slowdown in home sales and price dip has caught many sellers and a few agents by surprise. Buyers are always the first to sense when the market is changing. That’s likely because they are constantly on the internet searching for homes and keeping track of sales activity. Sellers are the last to admit the market has changed. They continue to base their pricing on where the market has been. Buyers make decisions based on where the market and prices are headed."

"Looking back, the market has favored sellers. Looking forward, maybe not so much. The median listed price for a new home in El Dorado County is $735,000. We have more listings above $1 million than below $300,000. In 2001 48 percent of all young adults, 25 to 34, were homeowners. Last year only 40 percent. This market isn’t going to bounce back anytime soon. It’s the new normal."

From Chicago Business in Illinois. "A palatial mansion in Winnetka that former Democratic candidate for U.S. Senate Al Hofeld first listed for sale in 2012 at $9.4 million came back on the market on July 29 after almost three years off. The asking price now is $4.9 million, about 51 percent of what Hofeld wanted for the home seven years ago."

The Tampa Bay Times in Florida. "To show how much the market has changed in five years, the Times compared single-family home sales in June 2014 with those for June 2019. (The analysis was limited to Pinellas and Hillsborough, the bay area's two most-populous counties, because 2014 sales data could not be obtained for Pasco and Hernando.)"

"By 2014, the recovery from the crash was well underway. Earlier that year, a Times story had proclaimed 2013 as when 'Tampa Bay's housing market came alive.' Once again, 'Sold' signs sprouted in front of thousands of homes, although many were foreclosures."

"Cyndee Haydon, a broker associate with Future Home Realty, said the biggest demand tends to be for houses in the $314,000 range, the minimum price at which a property is eligible for FHA financing with 3 percent down. Among her biggest concerns is flood insurance and whether new maps that move many properties into high-risk zones could spark a huge increase in premiums."

"'Homes that don't need flood insurance will see an uptick in prices,' she predicted, 'but others will see a significant downturn.'"

The Shawnee Mission Post in Kansas. "To some this news is shocking. Honestly, I think to many PV residents this news might be shocking. I speak to hundreds of residents on a monthly basis and the general consensus is that the PV market is hot and will continue to be so. This is simply not the case."

"The real estate market is always shifting. We have been in an abnormally long seller’s market for over six years and the pendulum must now swing the opposite direction- a buyer’s market. We observed that the days on market required for a property to sell have been on the rise. Price adjustments are occurring more frequently and earlier in the listing process. Most importantly, buyers are simply not in a hurry."

"When home buyers have a lot to choose from, they might see the home at their first opportunity, and then do nothing. They think about it. Consider their options. They might even provide feedback that the home is a great fit for them, but still do nothing. This is what we have been seeing recently and it is a clear sign that the market has shifted."

"What if I told you that as I write this column (8/1) there are 89 homes for sale in Prairie Village? I remember not too long ago when the number of active homes for sale in PV did not exceed 30. Therefore, 89 is big increase from what we have seen in recent years."

"Last year 57 homes went under contract in July. This July only 28 homes went under contract. That is a significant drop in the demand for PV homes. Lastly, the number of homes that expired off of the market, or failed to sell is up as well. When under contracts are down, days on market and expired listings are on the rise, the market is in a downturn."

"So what does this mean for a PV resident looking to sell their home in the near future? Do it now! Home prices are being affected currently, but not tremendously at this point. It is coming though. Each week that you wait brings more competition and higher expectations from active buyers when it comes to your home’s condition and price. Our market is becoming a pricing war AND a beauty competition. The days of just throwing a home on the market are gone."

"Thoughtful conditioning of a home in order to sell is a must and pricing- this is a big one- pricing MUST be strategic. In today’s market, pricing inaccuracy can cost you thousands."