A report from KTVU in California. "Donald Kilmer and his wife are in the process of selling their 4-bedroom home in the Cambrian area of San Jose and moving to Idaho. But prices have dropped. According to Redfin, the San Jose market has seen the second biggest drop in median sale price nationwide following Bridgeport, Connecticut. 'You're on pins and needles a little bit because you want to get your best price,' said Kilmer."

"Oakland's prices have dropped 2.6% in the same time, marking the fourth biggest price drop in the country. Lex Orosco is the Kilmer's real estate agent. He says the market has changed in the six weeks since he listed the property, with buyers more picky. 'It takes a lot more effort to get a house sold these days,' he said. 'Buyers are able to ask for more when they're submitting their offers. They're getting more time to do their inspections.'"

"Across the city line in Santa Clara, realtor Myron Von Raesfeld lowered the price by $125,000 for a 3-bedroom, 3-bath home near Santana Row now on the market for $1,475,000. 'Things under about $1.2 million or less, we're still that seeing that still be a very competitive market. When you start getting into the marketplace above that, you're seeing it a little bit slower,' said Von Raesfeld. 'When you combine the lower interest rates with some of the pulling back of prices, we're beginning to see more buyers have the opportunity to really look at enter a marketplace where just six to eight months ago they thought they'd never have a chance to get into it.'"

"As for the Kilmers, they've dropped their asking price by $50,000 after about 6 weeks on the market. 'The little kid in you is disappointed because you want a lot of candy for your effort. But then at the same time, the market is the market. It's impersonal and prices adjust, and we all have to learn to live with it,' said Kilmer."

From 27 East in New York. "Out East, a real estate listings service for the East End, reports that of the homes listed for sale on its platform, 35 percent received a price cut during the second quarter of 2019. That’s compared to just 22 percent slashing asking prices during the same period in 2018."

"The biggest price drop on Out East in the second quarter was $9 million, or a 24.3 percent drop, from $37 million to $28 million. Are such price cuts a reflection of a softening luxury market, or simply due to asking prices that did not reflect the reality of the market?"

"Out East General Manager Matt Daimler: The sweeping price cuts that we see offered on homes in the Hamptons right now is a mix of both a soft market — particularly on the high end — and sellers finally adapting to this new reality. Buyers are in the driver’s seat this summer, and these price chops reflect sellers adjusting to meet buyers where they are, as they get motivated to close a deal while summer at the beach is still on everyone’s minds."

"Daimler: Buyers should think of the asking price as a starting point. They’re in a really strong position right now. With so much inventory on the market to choose from, they can afford to be picky and patient, and stand their ground in negotiations, as sellers work hard to make their listings stand out."

The Houston Chronicle in Texas. "Home foreclosures often conjure images of dilapidated tear-downs or gutted halfway-done house remodels. However, Texas has a sizable collection of luxury residences that now fall under that unfortunate category. Among them is a million-dollar Memorial house and a nearly $2 million Austin mansion."

"Situated in the Davenport Ranch part of west Austin, this six-bedroom, 7,439-square-foot dwelling has gone under foreclosure at $1.97 million. In Houston, a house was just listed as a foreclosure property in a posh local neighborhood: a Memorial estate at 12515 Boheme Drive. The three-story, 4,723-square-foot residence hit the market just last week. It is currently priced at $1.273 million."