A report from the Bradenton Herald in Florida. "The median price for existing single-family houses in the Bradenton area fell 12.8% to $479,000 in October, the largest decline this year. It was also the first time since February 2022 that the median fell below $500,000. 'Inventory has been on this steady increase since 2022, and while we’ve hit the highest it’s been all year, it’s still not quite back to pre-pandemic levels,' said Brian Tresidder, president of the Realtor Association of Sarasota and Manatee, of the condo market. The supply of condos and townhouses in Manatee County was up 65% to a 3.8-month supply, compared to 2.3-month supply a year ago. For single-family homes, the month’s supply of inventory in Sarasota increased year-over-year by 77.3% to a 3.9-month supply. 'The good news is that we’ve been trending upward and we’re getting closer to the benchmark for a balanced market,' Tresidder said."

The Dallas Morning News. "Dallas-Fort Worth was among the less than 20% of U.S. metro areas that didn’t see higher home prices in the last quarter. With a median sales price of $385,700, the cost of single-family homes in North Texas was slightly less than the nationwide $406,900 nationwide sales price. D-FW home prices are down from a peak of $408,200 in the mid-2022 Realtors price report. 'Following the big price changes during the last several years, it’s natural to witness momentary swings in prices,' Realtors’ chief economist Lawrence Yun said in the report. 'Some markets that experienced sizable home price gains since 2020 have turned lower, resulting in temporary relief for prospective home buyers.' Along with the price declines in D-FW, median home prices in the third quarter dropped by 10.3% in Austin, 4.8% in Jackson, Miss. and 3.6% in Cape Coral-Ft. Myers, Fla."

The Oaklandside in California. "If you couldn’t already tell from all of the cranes and construction sites, Oakland has experienced a building boom in recent years. The majority of these new residences were built downtown and in surrounding neighborhoods like the Jack London District and Uptown, in part because these areas are zoned to allow developers to construct the largest buildings in the city. We repeatedly hear the same question from readers of The Oaklandside: 'Are people even living in those luxury high-rises?' Rumors that these buildings are half-empty swirl, aided by the fact that most of them advertise flashy move-in deals, offering a two- or three-month discount on rent for new tenants. 'Those buildings have almost 50% vacancy,' one person claimed in response to our post on Reddit looking for people to talk to for this story."

"Berkeley resident Jeff Baker began analyzing occupancy data for East Bay apartment buildings after seeing people claim that some were near-empty. 'I have watched a lot of these buildings try to lease up, from the moment they were first built, to the present,' Baker said in an interview. There are two typical trends he’s noticed, with the more common being the Lydian’s process—'being aggressive about leasing up in a year.' 'The other archetype is the Atlas,' he said, referring to the unmissable 40-story tower on 14th Street. The second-tallest building in Oakland, with 633 apartments, the Atlas opened in 2020. 'That one’s never really leased up, and it’s currently advertising 100 vacancies,' Baker said."

"Many residents brought up the move-in deals commonly offered by new buildings: 'Live 12 weeks rent-free,' 'move-in bonus,' 'up to two months free.' Adeeb Djawad, who’s a lawyer, called the deals 'the biggest source of bullshit that goes on with these buildings.' He believes the landlords know they couldn’t actually rent the apartments for the supposed full cost, so they pretend they’re offering a 'discount' when the reduced price is the true market rate. Natasha Watkins, a tenant at 1717 Webster, said her building is pretty full but has frequent turnover. 'I never recognize anyone,' she said. 'I imagine because there are so many sign-up deals, it would be easier to move elsewhere.' But she acknowledged that her landlord has lowered rents upon renewal for some of her neighbors."

"The Whatsapp group is going strong at ZO, a tower on 17th Street that helped kick off the building boom. When management changed a year or two ago, things went 'downhill,' said a tenant who asked to remain anonymous for fear of retaliation. The pool has been closed for six months, despite tour guides advertising it to prospective renters, he said, the staff turns over frequently, and the heating and cooling system is ineffective. He’s not sold on downtown living either. 'It doesn’t feel like a super safe long-term place,' he said. 'We’ve had multiple shootings on our block and witnessed so many cars being bipped. If we had kids we probably wouldn’t want to be here.'"

The News Tribune in Washington. "A multi-building, office-retail-apartment development in Tacoma remains stalled, with no indication when it might restart. Tacoma Town Center, a 6.4-acre property bordered by South 21st to South 23rd streets from Jefferson to Tacoma avenues, has encountered delays, liens and legal challenges. The undeveloped parcels are now two years behind in property taxes for a total of more than $279,000, according to county tax records. Projected construction deadlines also have been missed. The area's apartment-construction market has seen some high-profile projects take a hit following a boom in recent years. On Friday, the unfinished Tacoma Trax, 415 E. 25th St., was sold to the project's lender at a foreclosure auction along with a related apartment property in Kent."

"In July, Harbor Custom Development pulled the plug on plans for a luxury apartment proposal near the Stadium District. And at least three parcels slated for multifamily units remain undeveloped at Point Ruston, as extensive ongoing debt litigation involving those and some other parcels continue. Commercial real estate information company CoStar this summer reported that 2023 had seen 'one of the slowest starts to apartment construction in a decade,' from Seattle to San Diego. Higher interest rates and rising construction costs were among factors cited in the coastal slowdown."

From WCPO. "Jim Tobin is the CEO of the National Association of Home Builders. He tells us the real estate climate is making things tough across the board. 'Builders are trying to be as creative as they can to help people get into a home.' In September, Tobin says some builders started slashing prices and offering perks and incentives to encourage sales. The average discount: 6%. 'There's product out there and builders want to move it.'"

CTV News in Canada. "The last year and a half have been an emotional roller coaster for engaged couple Joe Jennison and Alicia Murrell. Looking to buy their first home, the couple sought a new build in Guelph, Ont. but were unsuccessful in two lotteries by developer Fusion Homes. The couple says closing on their first home, in the 'Sora at The Glade' development, was a major life moment. 'So we went: ‘That's it, we made it. We got our house.’ We were super excited,' Jennison said. The couple says their relationship with Fusion Homes quickly started to sour not long after closing. 'It was probably a few months later they started releasing incentives because they weren't selling their homes,' Murrell said."

"According to the couple, by the time they were ready to move in, the incentives had reached $100,000 off the sale price and there were offers for around $100,000 in free upgrades. They say these programs devalued their home by $200,000. 'It's not the fact that we aren't getting anything at all and we're stomping our feet and upset saying, 'We want this too,' Jennison said. 'It's the fact that they've devalued our house before we've even literally looked at it.'"

"After negotiations, Murrell and Jennison agree to forfeit their $141,000 down payment, and they say Fusion Homes agreed not pursue legal action. Initially Murrell says the feeling was relief. 'And that's sad that we were relieved to lose $140,000,' Murrell said. 'I was happy when we got that email, I'm like, ‘Okay, we're out, they are keeping our down payment, I’m ecstatic.’ That feeling later turned to frustration and resentment. 'It's a very tough and bitter pill to swallow because Fusion walks away with all of our money and they get to resell the house and make even more money,' Jennison said."

The Globe and Mail in Canada. "Real estate buyers who look beyond Toronto to some of the Golden Horseshoe’s small towns and suburbs have been eyeing the market with extreme caution this fall. Matthew Regan, broker with Royal LePage Real Estate Services, says inventory began to swell in September after homeowners listed their houses for sale in the late spring and summer – just as buyers pulled the emergency brake. Meanwhile, a cohort of homeowners who delayed listing during that period planted a 'for sale' sign in September. 'You’ve got the people who wanted to sell but couldn’t, plus the people who were holding off. They all entered the market in the fall,' he says."

"Mr. Regan says the vacation home market is seeing an increase in sales by owners who purchased a cottage or country home during the pandemic. Many used a 'home equity line of credit' tied to their principal residence when interest rates were ultralow, he says. Now that interest rates have risen, many of those owners in many Ontario places such as Collingwood, Muskoka and Peterborough, are stretched. 'I don’t know if panic selling is the word but certainly pressure selling,' he says of people trying to lighten their debt burdens."

"Shawn Lackie, real estate agent with Coldwell Banker R.M.R. Real Estate, says Durham Region, east of Toronto, is tipping towards a buyer’s market. Mr. Lackie expects the market to remain slow in the coming months. 'The madness is over,' says Mr. Lackie. 'We’re probably two years away from feeling the full fallout of what happened during the pandemic. They all ran out and bought in Cobourg, Port Perry and Uxbridge when they could work from home,' says Mr. Lackie. 'Now they’ve found it’s not what they expected it to be – or the boss wants them back in the office.'"

"Mr. Lackie says many people can’t sell the house today for what they paid for it two or three years ago. Mr. Lackie says sellers are in a bind now if they set their asking price too high. Mr. Lackie says he understands the dilemma for sellers who are attached to their home and affix a certain value to it. But he cautions that they make a mistake when they decide to list at an inflated asking price just to test the market. 'If you overlist and you don’t get showings, literally after two weeks you’re chasing the market down. You’re starting out behind and you stay behind.'"

The Sydney Morning Herald in Australia. "Reserve Bank governor Michele Bullock has put home buyers and businesses on notice that further interest rate pain is on the way, saying inflation is homegrown and being pushed up by strong demand for everything from haircuts to dentistry. She warned that the growing prices of services, such as haircuts, were a substantial concern as they were being supported by strong demand. 'Hairdressers and dentists, dining out, sporting and other recreational activities – the prices of all these services are rising strongly. This reflects domestic economic conditions and is an indication that aggregate demand is sufficiently greater than aggregate supply to sustain these price increases,' she said."

"The bank this month took the official cash rate to a 12-year high of 4.35 per cent. Since starting to tighten monetary policy in May last year, the cumulative impact of its rate rises have increased the repayments on a $600,000 mortgage by $1600 a month. Bullock admitted she was receiving letters from Australians struggling with cost of living pressures, with low-income households suffering the most at present. But she held out little hope the bank would reverse its policy settings any time soon. 'While the (bank) board recognises there is a wide diversity of experience, the bank’s statutory objectives are economy-wide outcomes, and our key tool – the interest rate – is a blunt one. The board must therefore set its policy to serve the welfare of Australians collectively,' she said."