A report from The Paper in New Mexico. "Driven by historically low-interest rates and limited inventory, the report shows that the price for median detached homes in Albuquerque rose 25.8 percent when compared to June 2020, and reached an all-time high of $305,000. 'I have been blown away with how much cash has been injected into our market,' said Michael Schlichte, owner of Absolute Real Estate & Property Management. 'Regular retail buyers and large scale investment groups are placing large amounts of cash down, sometimes over 25 percent. They’re covering a seller’s customary costs and, oftentimes, paying above the appraised value. These elements were virtually nonexistent during the market boom of 2005 to 2007.'"

The Cape May County Herald in New Jersey. "'In six months so far this year, we have seen the transaction totals that would equal a year’s normal results,' County Clerk Rita Rothberg told Cape May County Chamber of Commerce members. Rothberg noted that the last year and a half have been unlike anything the county has experienced since before the real estate bubble that ushered in the 2008 recession. 'I see the trends, but I cannot explain them,' Rothberg added. 'When a property comes on the market, it causes a shark swarm.'"

"Many experts argue that this is not another housing bubble. Instead, they see it as an adjustment of the market to new realities of work and school. The market is calming somewhat now due to low inventory, tighter credit, and fewer pandemic-related factors."

The Star Tribune in Minnesota. "When Andrew and Heidi Stevens decided to upgrade from their $289,900 starter house in Crystal last month, they expected an offer within days, maybe even hours. Instead, it took two weeks and a $10,000 price cut before they found a buyer, leaving them to wonder: What happened to the red-hot market? 'Are buyers just worn out because they're sick of losing out?' Andrew Stevens said, after an open house attracted only three shoppers. 'Are buyers getting squeamish?'"

"Now, as the couple await the closing on their house in Crystal, they're settling in with their 2-year-old at the roomier place in Champlin. Andrew Stevens is aware they might have overpaid slightly for their new house."

"By most measures it's still one of the most competitive housing markets in decades. But a new report shows there are subtle signs that the housing market is in the midst of a normal seasonal slowdown or a slight correction. Michael Lane, president of ShowingTime, which tracks house showings throughout the country, said that while there's no evidence of a housing crash in the offing, rising prices and dizzying competition might finally be cooling sales at a time when higher home prices are drawing more listings into the market."

"'Buyers just can't afford the prices, but it could also be a little seasonality,' said Lane. 'But I am not among those who are predicting a burst of the bubble.'"

"Lane said that with prices on the rise, more new listings are likely to follow as homeowners cash in their equity and take advantage of the lowest mortgage rates in a generation. In the Twin Cities, that's already happening. Last month, according to the MAR report, there was nearly an 11% increase in new house listings in the Twin Cities during June."

A press release. "The average weekly share of homes for sale with a price drop passed 4% for the first time since September signaling a cool-down in the hyper-competitive market, according to Redfin. Other indicators corroborate the slowdown: the share of homes sold over list price, the share of homes sold within a week and median days on market are all also either cooling off or plateauing."

"'Asking prices are still high, but the share of listings with price drops is rising steadily and could soon reach pre-pandemic levels,' said Redfin Chief Economist Daryl Fairweather. 'That's an early indication that we are past the peak for this intense seller's market. Buyers may begin to regain some negotiating power on properties that have been on the market for more than a week.'"

From Flying Magazine. "If the current state of the pre-owned aircraft market is any indication, that recovery is showing a healthy rate of climb as the industry and aviation community ascends out of the depths of the COVID-19 pandemic. The comparisons of the pre-owned market to the red-hot US real estate market are many, with lower inventories and higher demand driving up prices. Anyone that has tried to buy a home recently would recognize the pre-owned aircraft market as being equally competitive, with cash offers beating out buyers who wish to finance their next airplane."

"'The market is hot right now,' said aircraft broker David J. Fill II. 'Sellers are demanding asking prices nowhere near VREF or bank values, and buyers are paying those prices. And we are seeing very few tire kickers at the moment—buyers that are looking are ready to pull the trigger with cash in hand, not unlike the housing market.'"

"Inventory is generally low, Fill explained, and while there are still piston and twin-engine aircraft out there to buy, 'nearly all of it is overpriced,' he said. 'One thing we are seeing are a lot of airplanes that haven’t flown in years that need lots of work coming to market with a ‘fresh annual’ because of the demand and inflated prices increasing the likelihood that the airplane will move quickly.'"

"For anyone hoping to put a new (to them) pre-owned airplane in their hangar, Fill has some worthwhile advice for buyers. 'Don’t settle for junk,' he said. 'These prices will come down eventually and when they do, people who are buying high right now will take a hit.'"

From Fin 24 on South Africa. "The property market is indirectly linked to the fortunes of the economy and, therefore, if one has a pessimistic outlook for South Africa's economy, then one must also have the same view on property, according to property economist Erwin Rode. 'The most important fact to consider in looking to the future of SA's economy is that it is on its knees, not only due to the Covid-19 pandemic, but also due to structural factors and the fiscal risk. This means there is not going to be a sudden miraculous recovery. Furthermore, the scenario is now made worse by the current unrest in parts of the country. A long period to recover lies ahead of us,' Rode told Fin24."

From Domain News in Australia. "Dozens of multimillion-dollar properties across Melbourne and some popular coastal regions have been left languishing unsold for up to 12 months, despite new figures showing most homes across the state are being sold within a matter of weeks. Real estate agents and buyer’s advocates say a surge in the number of 'discretionary sellers' hoping to cash in on the state’s runaway market has led to an increase in the number of multimillion-dollar homes going unsold."

"'There’s a lot of discretionary selling happening at the moment, where vendors are trying to seize the moment,' says Michael Paproth from The Agency Port Phillip. He says while an increasing number of vendors are hopeful they can 'name their price' as median house prices soar around the state and supply can’t keep up with demand, he says buyers are far savvier than that."

"Buyer’s advocate Nicole Jacobs agrees that Melbourne’s soaring property market – which saw the median house price jump by 4.8 per cent, or nearly $45,000, over the March quarter alone, to a record-breaking $974,397 – means there are more sellers 'that are willing to test the waters.' 'Most people assume that everything is flying at the moment,' she says. 'A-grade properties are flying but anything that is B-grade or not priced correctly will continue to sit on the market for some time. It all comes down to price … when you have properties sitting on the market for that length of time usually the vendor’s expectations are just too high.'"

From Bloomberg. "China Evergrande Group's shares and dollar bonds slumped after a court ordered the freezing of a bank deposit held by its onshore division, raising concern over the company's ability to repay debts. A court in Jiangsu province ordered the freezing of a 132 million yuan (S$27.7 million) bank deposit held by Hengda and its unit at the request of China Guangfa Bank Co., according to a court ruling released on July 13 that circulated among traders over the weekend. China Chengxin International Credit Rating Co., the country's largest credit risk assessor, previously added Hengda to a watch list, partly because of past-due commercial bill payments."

"The news deepens concern over the financial health of China's most indebted developer as Beijing cracks down on excess leverage in the property sector. Founder Hui Ka Yan met last month with officials from the country's top financial regulator, who urged him to solve Evergrande's cash flow problems as quickly as possible."

"'Evergrande is on the brink of a crisis,' said Shen Chen, a partner at Shanghai Maoliang Investment Management LLP. 'The application for asset freezing and the recent overdue commercial bills indicate that Evergrande's debt and liquidity situation is deteriorating. The company may find it more difficult to raise funding in the future, whether in public bond markets or shadow banking activities such as trust loans.'"

"Hengda had about US$32 billion of commercial bills outstanding as of December, the most of any major Chinese real estate company. Some bills issued by its units were earlier this month trading in the secondary market at implied yields as high as 36 per cent, after a series of missed payments this year. Guangfa Bank said 'the situation is urgent and its legal interest will be irrevocably damaged if it doesn't immediately file the asset freeze petition,' according to the ruling."