A report from the Salt Lake Tribune. "Utah’s housing crisis may be more about shrinking paychecks than a shortage of homes. 'No matter where you go, there is a significant percentage of the population that are having housing insecurities due to housing not being affordable, even though there are a lot of vacant units and excess supply,' David Fields, housing economist with the state Department of Workforce Services told members of Utah House Political Subdivisions Committee."

"Fields’ message drew instant skepticism from several members of Republican-dominated Legislature, after years of discussion focused on what researchers say is a gap of 50,000-plus affordable homes in the state’s existing inventories."

"'What you’re saying is just not true on the availability of housing stock,' said Rep. Calvin Musselman, R-West Haven and a real estate sales executive. He noted that home listings were currently being snatched up within five days of going on the market, down from 26 days less than a year ago. 'In 25 years, that is beyond anything I’ve ever seen, ever,' Musselman said. 'The idea that there’s this overflow of vacant houses out there, it’s just nonexistent.'"

From KTAR News. "As Arizona’s housing market continues to boom, it seems as though the average buyer is getting squeezed out. 'It is 200% a sellers market,' Bobby Lieb declared to KTAR News 92.3 FM with certainty. Lieb, who has been selling real estate in north central Phoenix for more than 30 years, said this market is unlike any he’s ever seen. 'I’m in shock,' Lieb said of the prices he’s seeing people list and buy houses at these days. 'In central Phoenix, about six months ago, the market was semi-crazy then, now it’s very, very crazy.'"

"According to Zillow, the average home value in Phoenix is $328,883—a 21.6% increase over the past year. But Lieb argues that in this market, the sky’s the limit. 'There just really is not any reality on what the homes are worth because people are willing to pay whatever they’ve got to pay to get the house,' Lieb said."

"He adds that the right realtors, who are experts in your desired areas will, like Cynthia’s agent, know what houses are coming before they even hit the market. Now, Cynthia is the owner of her dream home. 'Once I got the keys in my hand, I was so ecstatic, it still feels so surreal,' she beamed with pride. And Lieb has good news for recent buyers like Cynthia. 'Check back at the end of the year, your home is going to be worth probably 10% more, or 15% more, just because it’s gotten later in the year,' he said."

"And while Cynthia’s story has a happy ending, both she and Lieb recognize that in today’s surging market, typical Arizonans are quickly being edged out of home ownership in the state."

The Dallas Morning News in Texas. "With home prices in Dallas-Fort Worth setting records every month, sellers are getting even bolder with their asks. Even many sellers think people are paying more than their properties are worth. Realtor.com found that 29% of sellers are asking more for their properties than they think they’re worth. And in many cases, they’re getting it."

"The biggest home marketing website surveyed hundreds of home sellers in March and April. Almost a quarter of the sellers said they decided to peddle their properties to take advantage of inflated prices and make a profit."

"'Low mortgage rates and a lack of available homes for sale have created a strong sellers’ market, and these survey results show that homeowners think that they have the upper hand if they list their home soon,' George Ratiu, senior economist with Realtor.com, said in the new report. 'However, after a year of challenges which kept homeowners from listing their home, we are seeing sellers coming back, which should help moderate prices and bring more balance to the housing market over the coming months.'"

The Connecticut Post. "For realtors, pricing homes is a challenge in any year, especially when singular features make direct comparisons between properties difficult. But amid the ongoing pandemic flight by New York City residents, some agents are floating trial balloons sky high above the Connecticut properties they are listing — with the confidence they can cut prices if needed to levels still above what homes would have sold for only a few years ago."

"But in setting a sky-high asking price, sellers run the risk of their property languishing through subsequent price cuts. Just off the Merritt Parkway in Stamford, a house that includes an accompanying indoor hockey rink is now in its eighth month on the market with no takers, after a 23 percent price cut this February to $5.9 million."

"On the city’s waterfront on Wallacks Drive, a compound with seven buildings totaling 55 rooms absorbed two price cuts during the pandemic to below $10 million; the listing description now mentions the possibility of subdividing the property or leaving it 'as-is' to 'enjoy the room to entertain.'"

From Infotel in Canada. "After dramatic month-over-month increases in both the number of housing sales and prices in Canada for the past few months, sales finally dropped in April. Re/Max Kelowna realtor Colin Krieg said much the same thing. He found that Re/Max realtors had written half as many offers last week as they did a month earlier. 'What’s causing all this?' Krieg asked in a video accompanying the release. 'It could be buyer fatigue. It can be exhausting being out there, competing with other offers and having your heart broken just to do it all over again.'"

"'It may be an early sign some buyers are reaching their limit to engage in bidding wars,' states a report issued by RBC Economics. The RBC report suggests the upward trend in sales just wasn’t sustainable. 'It wasn’t a surprise to see Canadian home resales decline 12.5% in April,' the RBC report stated. 'After successively setting new record highs through the fall and initial months of 2021, they had little upside left. And unusually strong winter activity likely altered the traditional seasonal pattern, bringing forward activity that would have taken place in the spring.'"

The Australian Financial Review. "Residential landlords are planning to dump thousands of rental apartments in the Sydney and Melbourne central business districts in the coming months to avoid a further cash flow crunch following the termination of mortgage repayment holidays at the end of March. The owners of 2037 apartments in Melbourne and of 2282 flats in Sydney intend to list their property, potentially flooding markets grappling with oversupply and poor demand because of border closures, a survey conducted by Digital Finance Analytics shows."

"'Property investors with units in high-rise buildings are the most likely to list, as net rentals are often negative, meaning they lose money in cash flow terms, and they are hoping to get a buyer given the slight rise in some unit prices – though across many suburbs they are still falling,' said Martin North, director of Digital Finance Analytics."

"DFA’s findings mirror a survey conducted by ME bank that showed 23 per cent of investors indicated they want to sell their property in the next 12 months, compared with only 11 per cent of owner occupiers. CBD apartment landlords would struggle to support their mortgage with the current high vacancy rates and falling rents, despite the low interest rates, said Andrew Wilson, chief economist of Archistar."

"'There was a high proportion of investors taking advantage of those mortgage repayment holidays, so they were on life support to some degree,' he said. 'Those investors were finding it hard to get a tenant or they have to take a much reduced rent. Now that they don’t have that support mechanism, some investors may have to sell because their outgoings can’t match their income,' he said."

"The situation for CBD apartment vendors was unlikely to improve in the near term, warned Louis Christopher, SQM Research’s managing director. 'Listings for sale in the CBDs are going up and up and we’re nearly at an all time high, particularly in Melbourne CBD,' he said. 'This is not showing enthusiasm from vendors who are capturing hot prices, it’s them wanting to get out of a market that’s in a lot of trouble. The surplus stock is going to get worse this year, so first-home buyers or investors looking for cheaper apartments may find even better buying conditions six months from now,' Mr Christopher said."