A report from 8 News Now in Nevada. "8 News Now spoke with market experts who told us the public health crisis caused a lot of transactions to fall through, but buyers can now actually get a new home faster. Weekly sales dropped substantially as canceled transactions spiked from 28% to 79%. Those homes still had to be built, but now there are more move-in ready homes available."

"'The downside of that was the cancellations, as you can imagine, after the pandemic did hit,' said Nat Hodgson of the Southern Nevada Home Builders Association. 'You might be getting a premium because it is move-in ready, and someone needs a house.'"

The Bend Bulletin in Oregon. "From April to May, the median sales price for a single-family home dropped from $468,000 to $445,000, according to the Beacon Appraisal Group of Redmond. The median price for a single-family home in Redmond dropped $20,000 last month after hitting a record high of $358,000 in April, according to the report. In Sunriver, the median price dropped about $60,000 during the two-month span to $516,000."

The Miami Herald in Florida. "The luxury-condo market was oversupplied even before this year. Once pandemic restrictions began, Realtors were forced to go virtual. To attract buyers, they added incentives and dropped prices. The sales team behind Armani/Casa is offering gift cards worth $25,000 for home buyers to purchase furniture from Armani/Casa, said Sebastian Tettamanti, senior vice president of sales and marketing for Dezer Development."

"Since May, the tower is also allowing potential buyers to rent for a year, paying $9,000 to $25,000 per month and buy a year later, with their monthly payments going toward the purchase. Another incentive offered to potential luxury-condo buyers? Flooring. It’s one less thing for a buyer to worry about, said Miltiadis Kastanis, Douglas Elliman director of luxury sales. But the ultimate draw is discounting. Aware of the slowdown in sales activity and the oversupply, potential buyers are looking to negotiate prices."

"'They feel it’s a buyer’s market and they can dictate the pricing,' Tettamanti said."

The Los Angeles Times in California. "David Geffen turned L.A.'s real estate market on its head once again last week when he entered escrow on a Beverly Hills estate owned by L.A. Olympics Organizing Committee president Casey Wasserman. Now details are starting to surface, and real estate sources say the media mogul is paying about $68 million for the ultra-modern mansion. It’s a staggering sum but still quite shy of the $82.5 million Wasserman was asking (and significantly less than his original price tag of $125 million)."

The San Francisco Chronicle in California. "Rents are down 9% from a year ago in San Francisco and over 15% in some tech hubs in the South Bay, according to a recent report by Zumper. That trend will likely accelerate as layoffs mount and workers, newly liberated by work-from-home options, flee the Bay Area for cheaper cities, according to housing experts. Owners are increasingly scrambling to get tenants to sign leases, offering months of free rent, signing bonuses, and other discounts."

"'The balance of power has shifted to the tenants — there is no question about it,' said Joe Tobener, an attorney who represents tenants. Many landlords are proactively cutting rent — usually by 10% or 15% — as an incentive for tenants to stay, Tobener said. Other tenants are taking the matter into their own hands — reaching out to see if their current landlord will give them a better deal."

"Oakland, which has been furiously producing housing over the last two years, has about 10,000 units either under construction or recently completed. This includes 2,600 units being built around the Broadway-Valdez neighborhood."

"John Pawlowski, a senior analyst covering the apartment market for Green Street Advisors, said that Oakland housing — most of it targeting high-wage earners — could take a long time to fill up with renters. And competition will be fierce with continued free rent incentives. He said demand for new condos will be 'very, very thin as the impact of job losses spreads across industries.'"

"Ken Rosen, an economist at UC Berkeley, said that very few market-rate projects will break ground in the foreseeable future. 'New developments were not penciling anyway,' Rosen said. He said the greater Civic Center area in San Francisco — where there are 2,000 units under construction — would likely see steeper declines than other parts of the city, largely because of the homeless encampments and drug dealing that have spread throughout the neighborhood during the health emergency."

From Mansion Global on New York. "A top-floor condo along New York City’s Billionaires’ Row has sold for nearly $20 million less than it did five years ago—a stunning loss in one of the city’s most luxurious buildings. The five-bedroom apartment spans the entire 88th floor of One57, a supertall luxury condominium completed in 2013. It closed in the midst of the ongoing pandemic for $28 million—marking a 40% loss, according to newly filed property documents."

The Dallas Morning News in Texas. "CoreLogic said that 3.7% of D-FW homeowners with loans had missed at least one mortgage payment in March — the same as in December and slightly less than in March 2019. Only 1.2% of D-FW mortgages were 'seriously delinquent.' Looking at major Texas metros, Houston had the largest percentage of home loans with late payments at 4.9%. And in Austin, only 2.4% of homeowners had missed at least one payment."

From ABC 57 in Indiana. "Ryan Johnson and his family have lived in their house in Mishawaka for nearly 15 years but due to some unforeseen circumstances, he’s now being forced to sell his home during a pandemic. 'We are selling because the house is being foreclosed on and we are trying to beat the foreclosure by quick-sale,' Johnson said."

"Like many families who have hit hard times, Johnson and his have been thrust into the real estate market. But he had no clue that now is actually the best time for him to sell his home. And although Johnson hasn’t sold his home just yet, he is hopeful. 'I’m hoping to yes,' Johnson said. 'It’s very important to sell.'"