A report from Seattle PI in Washington. "The median home price for closed sales in King County dropped month over month, from $650,000 to $627,000. 'I don’t think anyone should be surprised that home prices in King County took a ‘breather’ in May,' said Matthew Gardner, chief economist at Windermere Real Estate. 'Clearly COVID-19 was the cause for this drop, but I’m confident this is a temporary situation that will be reversed as King County starts to reopen, and fresher inventory comes to market.'"

The Gainesville Sun in Florida. "Gainesville area agents say low mortgage rates help buyers and bargains exist, especially at upper end. Betsy Pepine, owner of Pepine Realty, said there is an oversupply of luxury resale homes priced at $500,000 and above. 'There are many great buys in this category of homes in our area as the inventory was never flushed out from the 2008 recession,' she said."

From Community Impact in Texas. "Data provided by Houston Association of Realtors’ Multiple Listing Service showed a 24.6% decrease in average days on the market in May compared to the previous year across the six ZIP codes that make up the Greater Tomball and Magnolia area. 'We have a lot of homeowners that are employed in the oil industry, and if they’re not put back to work, they aren’t going to be able to afford their $400[,000]-$600,000 homes,' said broker Renee Leslie-Buckhoff."

"Ray Wade, a broker and the owner of Legacy Texas Properties, said affordable houses have been selling, but higher-priced homes tend to have a longer time on the market. 'If you are looking at $1 million houses, it is more of a buyers' market,' he said. 'There is definitely more on the market than there are buyers.'"

The Chatham News Record in North Carolina. "Real estate professionals from across Chatham will tell you that the local market isn’t unaffected by the novel coronavirus. 'I feel right now in the $350,000 to $450,000 range, it is still a sellers’ market because that’s a golden price point,' said Lisa Skumpija of Absolute Realty Company in Pittsboro. 'Anything above $450,000 seems to be a buyers’ market. Prior to the virus the golden price point seemed to be up to $550,000, but I’ve seen that come down in the last few months.'"

The Press Democrat in California. "More than $1 billion in planned development along the passenger rail line in Sonoma County stands to be delayed as a result of the economic recession brought by the coronavirus pandemic. Securing construction loans is bound to be tough under the current economic headwinds. San Francisco-based Laulima Development paid $13.5 million for the land in late 2017 and has put the project on hold before, most recently over last summer, a delay that Laulima representatives linked to high local construction costs and financing challenges. To the north, Windsor’s plans to develop a new, $280 million civic center, hotel and housing project around the Town Green also have hit the skids."

"The 300-unit Mill Creek project, south of Windsor River Road, also has stalled. 'The intention is obviously to build these things,' said Peter Stanley, principal with planning and architecture firm ArchiLOGIX. 'It’s very expensive to get to the point at which they are. There’s no value if you’re not going to build them.'"

From 6 Sq Ft in New York. "Not only is One Manhattan Square one of the last residential buildings in New York City able to entice buyers with a 421-a tax abatement, but the Lower East Side high-rise is also currently offering major discounts on its luxury apartments. In response to the coronavirus pandemic, Extell Development announced last month discounts of up to 20 percent on all remaining units at the 800-foot-tall condominium."

"'While we have adapted to selling our residences through a virtual sales experience, we recognize that it is also important to incentivize our buyers with this program,' said Gary Barnett, founder of Extell."

The Real Deal on New York. "It has been a while since it was this hard for landlords to fill an apartment in New York City. Manhattan’s vacancy rate hit a new high in the 14-year history of a monthly rental report as new leasing activity in the borough was down 62 percent last month from a year ago. It was also 54 percent lower in Brooklyn and 61 percent lower in Queens. Though large, the year-over-year declines were not as bad as in April, which Jonathan Miller, author of the Douglas Elliman report, attributes to parties beginning to adjust to the new normal of the pandemic."

"Miller, an appraiser, said, 'As people lose their jobs or move out of the city to suburbs, it’s harder to fill that apartment.'"