It's Friday desk clearing time for this blogger. "In North Texas at least, the chief economist at redfin sees evidence of the market cooling off — at least a little. 'We're already seeing price drops happen. I think sellers have gotten a little bit over-eager with how much they are listing their homes for,' Daryl Fairweather said. 'And they don't have that much power...they have a lot more power than they did in previous years. But at a certain point it just reaches a maximum temperature.'"

"More houses are coming on the market, real-estate experts said. For high-end properties in particular, inventory is increasing as owners who delayed selling during the worst of the pandemic list their homes. Owners who weren’t planning to sell have changed their minds after watching prices climb ever higher. Meanwhile, some deals made at the height of the frenzy have fallen through, while overpriced homes sit rather than getting snapped up immediately. 'The sales market is not a frenzy anymore,' said Andrea Ackerman, a real-estate agent at Brown Harris Stevens in the Hamptons on Long Island’s East End."

"'We all felt, 60 days ago, that we were literally going to run out of inventory,' said real-estate agent Jonathan Boxer of Douglas Elliman in Aspen, Colo. 'And then things shifted. We started bringing on some new sellers.'"

"Until recently Michelle and Dan Mannix thought they would never sell their country home in Orient village on Long Island’s North Fork. A house a few blocks from theirs sold in 72 hours for $2.5 million. 'That was like, ‘Well, wow. What could you get for ours?’ That got our wheels spinning.' They listed it in late May for $2.466 million. In mid-July, the Mannixes reduced the price to $2.196 million. There have been no offers yet, however, and Ms. Mannix said there is more competition than she expected, with new listings popping up after months when the tiny hamlet had virtually no homes for sale. 'It felt like there was never anything, and now, since we put our house on the market, I’ve seen three or four really nice listings,' she said. 'For Orient, that’s a lot.'"

"There were 13 home listings on the market in Orient in late June, up 62.5% from the monthly average of eight listings the area saw over the past year, according to Realtor.com. In Montgomery County, where Potomac is located, 1,855 new listings came on the market in May, a leap of 49% from May of 2020, according to Bright MLS. High-end listings are more abundant in part because the investors who have been scooping up single-family houses tend to purchase inexpensive homes to maximize returns, said Realtor.com Senior Economist George Ratiu. Another factor is that some sellers are overpricing their homes—a phenomenon he referred to as 'a make-me-move price'—but buyers are wary of paying too much, unlike earlier in the pandemic."

"At mid-year, single-family homes in New Hampshire are selling faster and at higher prices than ever before. Home equity has risen $49,000 in just half a year. That’s the annual salary of many blue-collar jobs, the salary of someone who can probably no longer afford to buy a home. But there is a glimmer of hope for would-be homebuyers in the future. Some 2,445 new homes came on the market in June, an 8.8 percent rise from last year, and over 400 more than were put on the market in May."

"A brand new condominium tower in Flushing is going up for auction in the coming months after its developers filed for bankruptcy last year. The Barclay Tower, a 7-story building located near Parsons Boulevard and 147th Street, will go up for bankruptcy auction on Sept. 14. The building, which is currently vacant, also features an open rooftop and 17 available parking spaces. 'This auction presents an excellent opportunity for buyers to capitalize on Queens’ booming residential market,' said Jeff Hubbard, a senior managing director at A&G, the firm auctioning off the property."

"'We see the market tapering off,' said Georges Gaucher, general manager of Royal LePage Village in Montreal. 'Price increases are not going to stop, but they’re going to slow down.' For the costlier homes, price drops are possible. 'There are some corrections happening,' he said. 'I’ve already seen price reductions on some properties listed at $1 million or more.'"

"Canada’s scorching hot housing market is starting to cool, as burned-out buyers shift their focus from getting more space to getting back to normal after COVID-19, and the fear of missing out fades into a prevailing sense of 'wait and see.' Home sales in Canada fell for the third consecutive month in June and sit 25-per-cent below March’s peak, though they still touched a monthly record, data showed on Thursday. The average selling price fell to $679,000, down 5.3 per cent from the March apex."

"In Calgary, long-time agent Lowell Martens said the lull may be more about buyers sensing there is less competition and just taking some time off to 'see what happens in the fall.' While the pause has cooled things down, it does not feel like previous collapses, he said, with activity still strong in certain segments. 'I think it will be a softer landing than we’ve had in the past.'"

"Sales activities slowed down but interest in property remains. Buyers are still inquiring but have mostly adopted a 'wait-and-see' stance due to economic uncertainties stemming from daily cases. This has prompted many agents and developers to adjust payment terms and offer discounts to spur buyers into action and close deals as fast as possible, with mixed results. Market observers initially hypothesized that the vaccine roll-out would reinvigorate confidence in the property market. This confidence has so far been slow to pick up in the months of the capital’s vaccine roll out."

"Head of CBRE Cambodia’s Research and Consulting services, Kinkesa Kim provides nuance to this turn out, stating that COVID-19 has only highlighted the pre-existing issue of oversupply and the market is still in the process of adjusting to the new landscape. She further explains that current circumstances are paving the way for more carefully planned projects that take into account future needs of buyers/occupiers."

"Housing prices have soared across the world in the past year, but a local research house sees little room for optimism in Malaysia. Research house Kenanga said in its latest report that the housing market would 'continue to remain subdued even if we recover from Covid-19' because of the relatively slower economic recovery from Covid-19 and a long-standing oversupply that began in 2015. "

"The report said Malaysia’s oversupply started in 2015 when developers flooded the market with serviced apartments despite cooling measures imposed in 2014. Overhang units for serviced residences grew at a whopping compounded annual growth rate of 192% since 2015 till the first quarter of calendar year 2021. 'This issue is unlikely to abate in the near term given the large amount of overhang and unsold-under-construction units still in circulation today,' research house Kenanga said."

"Pune’s real estate market has seen 17 per cent price correction in the last five years, according to Knight Frank’s half-yearly (H1) real estate report. The report revealed that price per square feet (sq ft) in the region has corrected from Rs 4,860 in H1 2016 to the present levels of Rs 4,010 in H1 2021, a price drop of Rs 850 per sq ft. In fact, Pune and the National Capital Region of Delhi have recorded the sharpest price correction in India in the last five years. One of the main reasons for this is the higher cost of land, which had driven up prices in real estate sector in these regions in earlier years."

"According to the report, Pune currently has a total of 50,545 unsold units, the second highest inventory in recent years after H1 2016, when 55,215 units were unsold. 'As the second wave of the pandemic began unfolding, the momentum dropped, with Q2 2021 registering a sequential drop of 72 per cent in volume of home sales and 87 per cent in new home launches,' stated the report."

"Suburbs with few houses to choose from and a high concentration of units suffered the most: Strathfield Council area had the highest rate of loss-making sales at 16.1 per cent with a median loss of $25,500. It was followed by the Parramatta Council area where 15.6 per cent of sales suffered a median loss of $50,000. Fifteen per cent of sales in the Botany Bay Council area recorded a median loss of $38,500 Agents in these areas said the oversupply of units when demand has dropped off due to closed borders was undoubtedly dragging down their local markets."

"Devine Real Estate Strathfield’s Andrew Kazzi said while house sales have 'gone through the roof,' unit sales have not. 'It would be apartments [recording losses] and it would be because rents have gone down anywhere from 10 to 20 per cent therefore the capital values have dropped,' Mr Kazzi said 'There are still investors looking in the market, they just are not paying what they were previously.'"

"Some Parramatta unit owners were selling for no gain a decade on, according to Jon Hayden of Laing+Simmons Parramatta. 'If units aren’t priced right, they do tend to sit there when they reach the market. I’m finding some owners are owning for 10 years and virtually selling for what they paid,' Mr Hayden said."