A report from CNN Business. "Buying a home of her own became a priority for Kelly Robinson during the pandemic, as she began to feel cramped in her Indianapolis apartment.Robinson set a budget for $250,000. But in her market -- the suburb of Greenwood -- homes began selling within days, with as many as 10 competing offers, and sometimes going for $100,000 over the asking price. So she decided to put the home search on ice and continue renting. 'Crazy' to me is not getting an inspection because you want to be number one on the homeowner's list,' she said. 'That is a risk I'm not willing to take. And having to make an immediate decision the day you see it? That is another thing that makes me really nervous. If I overpay or don't get an inspection, that will cause bigger issues down the road.'"

"First-time homebuyers Steven and Laura Andranigian planned to move from their home near Monterey, California, to the Coachella Valley in southern California, where they have family and Laura got a job teaching elementary school. Looking for a home that costs less than $500,000 has them chasing properties as soon as they are listed. Many times, the houses are gone before they can even make an offer. Twice they've been laughed at for asking for time to get a pre-offer inspection. The Andranigians have decided to abandon their home search."

From NBC San Diego in California. "It's a frustrating time to buy a home. If you don't get the house initially, though, stay in contact with the buyer, said Mark Goldman, loan officer for C2 Financial Corporation. 'A lot of deals are falling out of escrow,' Goldman said. 'I'm hearing about situations where the buyer might be second, third, even fourth in line and then end up with the property.'"

"But what does that mean for the future of the market? Goldman expects mortgage rates to go up slightly as the end of the year approaches. Also, don't expect to see many foreclosures. 'You don't see foreclosures,' Goldman said. 'Values have gone up so much that if somebody is in financial difficulty and they need to sell, they can because they still have equity in the house.'"

The Los Altos Town Crier in California. "The 5150 El Camino Real property in Los Altos, site of an approved high-density housing project, is up for sale again after going into receivership. The former property owner, Dutchints Development LLC of Los Altos, lost the property in receivership after defaulting on a $41 million loan. The site is approved for a 196-unit housing project. Dutchints is mired in multiple lawsuits alleging misappropriation and mismanagement of investor funds."

From Bisnow New York. "Office buildings in New York City were only 21.9% occupied the last week of June, compared to a national average of 32.7%. The full fallout of the virus for Manhattan office has yet to be seen, said Compass Vice Chair Adelaide Polsinelli, and values are likely to come down. 'It’s going to take time … owners who have bought an office building any time between 2017 to 2019, you’re probably going to have some pain, especially if you bought at a higher price, and your loan is at a number that's not feasible today,' Polsinelli said. 'What's going to happen is that those are going to have to get shaken from the tree.'"

The Idaho Press. "There were 729 Ada County listings at the end of June, according to the Intermountain Multiple Listing Service. That number was 570 at the end of May and 361 at the end of April. Mike Pennington, a real estate agent for John L. Scott Real Estate who writes a monthly report, took note of the possibly shifting landscape.'We may finally be at a point where we are starting to see a correction,' Pennington wrote. 'Not a crash, but simply a plateauing of our housing market. If that is in fact the case, it is badly needed.'”

"'As our inventory continues to increase, which would be normal to get to that four- or five-month supply to get to more of a balanced market, we should start to see more stabilization in prices,' said Christina Ward, a real estate agent with Keller Williams Realty Boise. 'Or we could even see a decrease in prices.'"

The Baltimore Sun in Maryland. "A 23-acre estate in Annapolis at 1604 Winchester Road, owned by the CEO of Phillips Seafood, is the most expensive home for sale in Maryland listed at $24.9 million, according to the real estate auction firm handling the sale. Five years and $30 million of renovations later, the Phillips family and Annapolis architect Charles Anthony created the current estate. The estate first hit the market in 2012, priced at $32 million but did not sell. The asking price has since been reduced to $24.9 million over the past year. Bidding for The Friary will start on Aug. 12 at 4 p.m. and continue for six days. It is listed as 'no reserve' with no base bidding cost so that the house will be sold regardless of the price."

The Kansas City Business Journal. "After almost two years on the market and a 50% price cut, a castle-like mansion located at 5225 Renner Road inside the gated private community Lake Quivira is heading to the auction block. The auction is set to begin on July 23 with no reserve and end July 28."

From Business Day in South Africa. "Property ownership has traditionally been considered a good path to building wealth. In the property boom period of 2004-2008, more than 80% of primary residence properties sold for more than a 25% profit. That changed with the global financial crisis of 2007-2008, which crashed the property party, sending almost 30% of properties into forced sales at a loss. This resulted in about one in five properties losing more than 10% of their value."

"The Covid-19 pandemic has had a similarly negative effect on the property market, with a spike in forced sales as sellers discounted offers in 2020. With more than 2-million jobs lost at the height of the hard lockdown, quick sales were a relief from bond and property costs. Though the market has recovered slightly in 2021, it has undoubtedly been a tough period for property investors since the onset of the pandemic, with 18.6% of investment properties selling at a loss and a further 6.89% only just breaking even after estate agent commissions have been paid, according to TPN’s Vacancy Survey for the second quarter of 2021."

"These trends are a reminder that property is an illiquid asset with monthly holding costs that need to be serviced."

From Domain News in Australia. "The cost of renting an apartment in inner Melbourne has plummeted by as much as 24.5 per cent over the past year to historic lows and tenants are reaping the rewards, upgrading to better units and saving hundreds of dollars at the same time. In Southbank, where Alexander Moller has been renting since April last year, the cost of renting an apartment dropped by 21.6 per cent over the past year."

"The massive price falls have been a boon for Mr Moller, who currently shares an apartment with a friend. The falling rents meant he was able to upgrade to a 'much nicer apartment' in the area late last year and still save $150 a week in rent. 'I initially moved into an apartment in Southbank with a friend in April last year and there was only about five months left on the lease,' Mr Moller said. 'So, we started looking to see what else was available and there was just so much choice. We ended up moving into a much nicer apartment, in a newer building with more facilities and it was $150 a week cheaper than what we were paying.'"

"And there’s more good news for tenants in Melbourne’s CBD and surrounding suburbs: agents and property managers don’t expect falling rents to head in the opposite direction any time soon. 'A lot of the apartments we manage are studio apartments that are located close to the CBD and the universities,' said Nicholas Mitchell from Space Estate Agents Melbourne. 'Before COVID, we would lease them overnight. They’d always go very quickly. I’d say now, the ones we do lease are going for 30 to 35 per cent less.'"