It's Friday desk clearing time for this blogger. "The median existing home-sale price in Forsyth County dropped by 14.3% in the first quarter, according to Attom Data Solutions. Attom reported Guilford County had a median sale price of $220,000 in the first quarter, down 11.3% from $245,000 in the second quarter of 2022. Durham County had a median sale price of $370,000, down from $402,500 in the second quarter of 2022. Mecklenburg County had a median sale price of $351,000, down from $395,000 in the second quarter of 2022. Wake County had a median sale price of $422,000, down from $451,000 in the second quarter of 2022. 'We are starting to see some patterns that show where the U.S. housing market is cooling off and how it’s hitting homeowners based on some key metrics,' said Rob Barber, Attom’s chief executive."

"The Dallas housing market has soared in recent years, with the median sale price shooting up from $335,000 in May 2018 to $487,000 in May 2022, per Redfin data. Despite the long-term increases, things have cooled a bit recently. Median home price: $418,000 in May 2023, per Redfin. That’s a 14.2 percent decrease from last year."

"Ada County homes are in demand once again. However, the median sales price for homes in May 2023 dropped nearly 11%, compared to the same time last year, landing at $534,900. 'We are under inventory in low-income housing or medium-income housing, so prices for first-time home buyers, we don't have a lot of that inventory in Ada County,' said Elizabeth Hume, President for Boise Regional Realtors. Five years ago, that income group was able to afford 50% of all available homes. Now that number has shrunk to 23%."

"The Baldwin County housing market is returning to normal after a frenzied few years, though it’s not cooled completely yet. On the resort side, data from Baldwin Realtors shows that the average sales price of a resort property in the month of May was $719,985, a 1.9% decrease from the prior year. The average number of days on the market was 68, a 272% increase from May 2022. Coastal condos sold for an average of $552,377, a decrease of 13.1% from the previous year."

"Brian Mariottihas once again listed his spectacular Coronado, CA, mansion—at a lower price this time around. In March 2022, the sprawling spread made its market debut at $39 million but was reduced to $32 million earlier this year. After a brief hiatus, the property was relisted at $29,995,000 for what will hopefully be a charmed third time."

"Colorado's affordable housing crisis is at a tipping point. On top of soaring property taxes, insurance premiums have now doubled or even tripled for some homeowners. Others are seeing policies canceled altogether. The Division of Insurance says the average premium in Colorado jumped 23% last year alone. And, 76% of insurers decreased the number of Coloradans they cover last year. Kitty Stevenson has a house, barn and 25 acres on Sugarloaf in Boulder County. She put her property on the market and moved into town. Stevenson notes that you can't get a mortgage without insurance, 'Are people going to be able to sell their house? Can people buy a house? What is that going to do to property values in the state of Colorado?'"

"If you’ve been downtown lately, you’ve probably seen signs advertising available office space. The city of Orlando said the Downtown Development Board is working toward long-term solutions. Office space developer Mike Fess said landlords are also thinking creatively about how to utilize their space. 'Orange County, Osceola County, Seminole, Lake County, those guys are being a lot more open to allowing office building owners to rezoning to medical office, because they see the pain that the owners of those properties are having,' Fess said."

"For many buyers and sellers immersed in the spring rejuvenation of the Toronto-area real estate market, the Bank of Canada’s recent interest rate hike came as a sudden jolt. Industry professionals say calls flooded in from potential buyers, investors and existing homeowners as they grappled with the possible repercussions. Pritesh Parekh, real estate agent with Century 21 Legacy Ltd., said investors who bought properties to rent out are often paying significantly more each month in mortgage repayment and expenses than they receive from tenants. 'This may have been the last straw for some owners.'"

"Sweden's government is ready to step in to stem the fallout from a property rout if tumbling prices cause a wider crisis - a potential harbinger of trouble across Europe. High debts, rising interest rates and a wilting economy has produced a toxic cocktail for Sweden's commercial property companies, with several cut to junk by rating agencies. House prices are also down by around one-fifth since their March 2022 peak, according to the OECD, reflecting soaring mortgage costs. Sweden and Germany are among the worst affected by a widening property slump on the continent, according to Eurostat. 'When it comes to the commercial property side, clearly there are contagion risks,' said Swedish Financial Markets Minister Niklas Wykman, without singling out individual companies. 'It could be that one or more company sells assets. It leads to other companies having to revalue assets and that can, in turn, mean that more companies need to make changes.'"

"The boom that pushed many house prices above $1 million has petered out amid rising interest rates, new data suggests. However, almost half of Canberra's suburbs still have a seven-figure median house price. The latest CoreLogic data show the ACT remains Australia's second-most-expensive capital city for property, after Sydney. The ACT's median dwelling value fell 8.8 per cent in the year to the start of June, compared with a 6.8 per cent drop nationally. The sharpest decline was in the high-end suburb of Garran, whose median house price fell 16.2 per cent to $1,495,629. Across the border, Jerrabomberra house prices fell 16.3 per cent to $1,062,787. Fifteen Canberra suburbs, as well as Googong across the border, fell out of the $1 million zone — their median houses prices are now six figures. CoreLogic noted the cumulative effect of 12 interest-rate increases, saying 'membership of the $1 million club has become more exclusive.'"

"People selling houses in the top of the south are being too slow to react to the market and adjust their price expectations, the Real Estate Institute of New Zealand says. In its May property repor REINZ reported that Marlborough’s prices decreased by 6.8% in the same period to $635,000, while Tasman dropped 12.9% to $745,000. Nelson/Marlborough manager Craig Russell said there were still properties being forced to drop their price, particularly in Richmond, he said. 'There is still a glut of properties for sale in the $900,000 to $1,500,000 price bracket – particularly in the wider Richmond area. These properties need to be competitively priced to meet the market, and so we’re continuing to see some price reductions to align price expectations with the market.'"

"Beijing resident Hu Yongwei bought more than a dozen apartments in the small central Chinese city of Hebi for about $31,000 in all, betting they will be financially more rewarding than other investments. Hu, who mostly acquired two- or three-bedroom apartments built about three decades ago, spent 18,000 yuan ($2,528) this month in purchasing his 15th property in Hebi, where prices have plunged over the last two years. 'The flats were sold very cheaply, like cabbage,' the 39-year-old said, adding his family's bad experience with the stock market has made him steer clear of shares."

"Hu paid a surprisingly low 1,000 yuan excluding taxes and fees for one of his apartments in Hebi. According to one of China's largest real estate platforms, prices are 27% off their 2021 peak in some areas in the city. Similarly, prices are as much as 24% below their top in parts of Huainan, Rushan and Gejiu. Consumer sentiment remains below the range set over the past two decades. Domestic demand is weak as consumers and companies prefer paying down debt to investing. And youth unemployment is at a record high of above 20%."