A report from the Associated Press on Utah. "Evidence from Utah home listings suggests some homeowners are pulling back. A few are panic selling — while would-be buyers begin to feel tightening credit, with more hurdles to jump to get a loan as lenders worry about job losses. Some sellers have lopped thousands of dollars off their asking prices in recent weeks, raising the prospect of bargains in the market. Several agents said some wealthier homeowners with second homes in Utah have gotten clobbered by recent stock market declines and have started to sell to raise cash."

"Sarah Mortensen and her husband prepared to sell their Davis County home in early April. They accepted their first offer. They 'were concerned about job loss or a market crash so we wanted to get the house sold as quickly as possible.' 'There are less buyers in the market, but it has allowed more opportunity to purchase with less competition,' said Ashlee Shipley, senior loan officer with a Cottonwood Heights-based mortgage lender."

The Associated Press on Nevada. "On the always busy, always noisy, never sleeping Las Vegas strip, you can now hear birds chirping. Workers are expected to lose $7.7 billion in wages and salaries over the next 18 months if the tourism industry is shuttered between 30 and 90 days, according to a study from the Nevada Resort Association. Victor Chicas, a restaurant server in the Mandalay Bay casino-hotel, was facing foreclosure on his home before the virus shut down the city and the 54-year-old was laid off."

"He immediately ended his cable and internet service to cut his expenses and drained his swimming pool to trim his electric bill. He’s still waiting to find out if his home loan modification will be approved and if he’ll get a chance to try to keep his house, while also supporting his sister and her two children, who immigrated to the U.S. from Guatemala. 'Now when we come back,' he said, 'I’m going to be underwater.'"

From New Jersey 101.5. "Compared to the same week in 2019, home purchase contracts in the Garden State were down 51% in the first week of April this year. Randi Dickman, broker associate with RE/MAX First Realty in East Brunswick said she has two sellers whose homes she has not yet listed, mainly because buyers are expecting to get a home 'at a discount' during this crisis. 'The prices are going to dip just for the next few months,' she said."

From Mansion Global on New York. "After four weeks with just two high-end homes going into contract each week, last week saw five homes over $4 million move off the market, according to the weekly Olshan Luxury Market Report. As has become de rigueur, the homes that have gone into contract are on the lower-end of the luxury side, with the median price for these five coming in at $4.5 million. The average discount from the original ask last week was 9% and the average days on market was a staggering 459, according to the report."

The Durango Herald in Colorado. "The median price of a home in Durango dropped 7%, while the number of sales held relatively stable compared with the first quarter of 2019. In Durango, the number of homes sold in the first quarter increased to 34 from 27 in the same quarter in 2019. The median price dropped from $522,000 in the first quarter of 2019 to $482,000 in the first quarter of 2020. 'Some feel that a downturn in the economy will affect the real estate market and prices, but we see no indication of that happening,' said Heather Erb, managing broker at Coldwell Banker Heritage House Realtors.'"

From Miami Agent Magazine. "With the most rapid increase in unemployment in recent memory, it was inevitable that some homeowners would need to hit the pause button on their mortgages. Indeed, according to the Mortgage Bankers Association, the number of loans in forbearance grew from 0.25% of all loans during the week of March 2 to 5.95% as of April 12. That means more than 3 million homeowners have entered into a formal plan to skip mortgage payments for now."

"But there may be more waiting in the wings, afraid to move forward. According to a report on National Public Radio’s Morning Edition Friday, some borrowers are not entering into a forbearance agreement due to uncertainty about how funds will be repaid at the end of the forbearance period. The idea of asking struggling homeowners to pay back all missed payments immediately upon ending a forbearance period doesn’t make a lot of sense to Howard Ackerman, vice president of mortgage lending at Regions Mortgage in Chicago."

"'I don’t know how a balloon payment would be feasible,' he said, noting that a borrower would have to have gathered the funds necessary to pay the full amount in a relatively short period of time. 'If that were the case, you would just be making the mortgage payment.'"

The Californian. "Bakersfield's home market was on track to finally retake the peak it achieved during the housing bubble. 'We were expecting 2020 to be a really great year, and spring is the time when most people are holding off to list their homes. And then — boom! — this happens,' said sales agent Ronda Newport, president of the Bakersfield Association of Realtors."

"Not only has the crisis wiped out thousands of local jobs across several industries, but the region's most influential sector, oil production, suffered a major, prelockdown price decline that shows no sign of recovering in the near term. 'Things were kind of looking good until COVID hit,' said local appraiser Gary Crabtree."

"Another trend Newport and Crabtree have noticed is that investors who bought locally during the Great Recession, only to fix up and rent out their new properties, are finally beginning to sell them."

The Dallas Morning News in Texas. "Pending home sales in North Texas are sliding, and asking prices for homes are falling too. The median price of homes listed for sale with area agents was 4.4% lower than at the same time last year."

"'Sales in the West and Northeast, regions hit earlier by the coronavirus outbreak and among the first to impose strict social distancing measures, fell dramatically,' Zillow economist Matthew Speakman said. 'With widespread shutdowns spreading to the South and other regions toward the end of March, that likely sets the market up for an even worse April. Now, with sales waning, construction projects getting shelved and homebuilders’ confidence plummeting alongside consumers’, the once-hot market for new homes has been put into a deep freeze this spring.'"