It's Friday desk clearing time for this blogger. "People are moving all over the Tall City which is causing a housing market shift. Midland real estate agent Jeaneen Pruitt said Midland real estate is all about supply and demand and right now, there is a lot of supply. 'The oil and gas industry is slowing a bit and people are moving so raised supply and lower demand there is that you know shift that we were talking about,' said Pruitt.

"'I pulled some stats and saw 55 days on our active listings and I thought there is that shift. I have seen the shift with our active inventory and talking with our sellers and reassuring them and coaching them ,' she said. Pruitt said Midland is great place to buy a home, but people can continue to see more shifts like this in the coming months."

"There’s no shame in lowering your price. According to Zillow, nearly 1 in 8 sellers does so. But many don’t bite the bullet quickly enough. There may be other reasons your house isn’t selling. But '99.9 percent of the time,' says California agent Thomas Nelson, 'it is price, and it needs to be reduced.' Nelson said he’d pull the trigger by the third weekend. Fellow California agent Michelle Carr Crowe would make a move after 30 days. And agents Mary Hutchison of Missouri and John Wiley of Florida would lower the price after just two weeks."

"According to NAR, 18 percent of sellers lower their price more than once, with a few lowering it as many as four times before accepting an offer. Whatever you do, though, make that first price reduction count. One reduction can attract buyers looking for a bargain, as long as you drop it enough to be competitive, says Massachusetts agent Bill Gassett. But more than that could be the kiss of death. 'Multiple price reductions will start to make your home undesirable,' he says. Reductions 'will usually draw even further negative attention, leading buyers to assume there must be something seriously wrong with your home.''

"Apartment List found new housing development lags behind job development in many major cities, however in the Myrtle Beach there is actually an oversupply of houses. Along the southeastern coast, the study found similar trends. Wilmington, Greenville, Hilton Head, Virginia Beach, all added less than one job permit, which is considered an oversupply in housing."

"Traverse City’s residential listing inventory is at a 40-year low and has been for more than four years. A very savvy Realtor that I know who studies Michigan real estate statistics recently told me that 'we are always about two to two-and-a-half years behind what is going on in southern markets like Ann Arbor.' What is going on in Ann Arbor these days? A full-blown buyers’ market. Listings at the $250,000 price point there are sitting on the market."

"The Pikes Peak Association of Realtors showed 1,651 homes were sold in June of this year, which is less than the amount sold last June. In Laura Karan's neighborhood, she said she sees six 'For Sale' signs. 'I've noticed that some of them are sitting a little longer than they used to, but I don't know if that's because of the price point or if the market's changing,' said Karan, a realtor with RE/MAX. 'Because we have been on the upswing for so long, that we're due to take a dip. So, that is a very good possibility.'"

"In the Bay Area, permits to build new homes and apartments tanked — falling nearly 50 percent in San Mateo County compared with the prior year, 30 percent in Alameda County, nearly 10 percent in Santa Clara County and 7 percent in Contra Costa County. 'At this point, it’s become a noticeable decline,' said Hans Johnson, a senior fellow at PPIC in San Francisco. 'It’s the start of a worrisome trend.'"

"'Real Housewives of Orange County' star Gretchen Rossi’s home that she shares with fiancé Slade Smiley, may be auctioned off for allegedly being behind $26,000 in payments. According to court documents obtained by The Blast, a lien on the reality star's home will be auctioned off to the highest bidder on August 26. The documents note the unpaid balance owed on the mortgage by Rossi totals $431,529.79."

"In the second quarter of 2019, the number of Hamptons home sales declined compared to the same period a year earlier, according to the Elliman Report. It was the sixth consecutive quarter of year-over-year decline. The most striking figure in the Elliman Report is an 88.3 percent increase in the inventory of single-family homes. The months of supply—or the number of months it would take to sell all inventory based on the pace of sales—doubled, from 7.9 to 15.8."

"Ernest Cervi, the regional senior vice president of East End operations for Corcoran advised sellers against holding out for a high price or asking for more than the market value. 'If you want to sell your house, sell it now, because you don’t know what that’s going to look like in the future,' he said. 'You don’t know if you’re going to get more or less money. But if you want to sell it, let’s try and sell it now. Price it right to the market. It’s the perfect storm for people to come out and start buying.'"

"Real estate investment firm BH3 has taken over a $195 million non-performing loan on 125 Greenwich St., an 88-story luxury condo tower that topped out earlier this year in Manhattan’s Financial District. BH3 set up a debt opportunity fund last November in order to tap what it sees as a rising wave of non-performing loan opportunities in the markets where it operates, primarily New York City and South Florida."

"'As we approached the end of 2018, we saw some writing on the wall that was reminiscent to us of 2007,' said Gregory Freedman, principal & co-founder of BH3. '125 Greenwich represents to us the first real validation that the bull market that we’ve been in for the past eight or nine years has kind of come to an end, and we’re in a new chapter.'"

"Many new high-rises have changed the Phoenix skyline over the years, and there are even more in the works. Vacant, flat, dirt lots are quickly transforming into brand-new towers, as the city's economy continues to add thousands of jobs every year. The growth, however, is sobering for some. 'What it seems like they're forgetting are people who already live here,' said Camaron Stevenson with the Arizona Housing Coalition."

"The median home price in Phoenix is now just under $250,000, up 97% since 2011. 'We have one of the largest gaps in affordable housing versus people who need it in the country, and if we continue at this pace, we're going to see a rise in homelessness,' said Stevenson. 'All the downfalls in the 2008 recession, we're going to see that come right back at us.'