It's Friday desk clearing time for this blogger. "The Denver Metro Association of Realtors (DMAR) market trends report for June showed 10,214 active listings on the market at the end of June, a 68.27 percent increase from the same month last year. The last time there were over 10,000 active listings in Denver was September 2013. Of the homes currently for sale, over 50 percent have had a price reduction. Denver real estate expert Steve Danyliw says homes would sell within a week in 2022, often within one weekend. 'I don't expect the rates ever to come back down to 2.5 or 2.75 percent,' he says. 'That is way behind us. But it has to get somewhere realistic to where even the sellers will get back out into the marketplace.'"

"The median sales price for a single-family home in Greater Boston has shattered records as it creeps closer to that $1 million mark. The median condo price did, too. Jared Wilk, president of the Greater Boston Association of Realtors, cautioned sellers not to get too aggressive with pricing. 'In today’s high interest rate environment, many buyers are unable or unwilling to overextend themselves financially. They’re choosing to be less aggressive and more conscientious, which has caused some to suspend their home search for the summer or until rates come down, and that’s made for a less competitive market than we saw this spring. We’re not only seeing more bids under asking price, but properties that are overpriced are drawing fewer offers, sitting longer, and requiring a price reduction or two in order to sell,' he said."

"Median home prices in the northeast San Antonio area have continued to increase over the last two years while average days on the market have more than tripled in some ZIP codes. Changes in the market have prevented some potential buyers from showing interest in properties, while sellers compromise on initial prices, realtor Brian Mylar said. 'Back in 2021, you put a house on the market and would have an offer immediately,' Mylar said. 'It is a complete turnaround today, and a lot of buyers are concerned about interest rates.' Homeowner Isaac Hernandez said for people looking to move, selling a home has become more competitive than in previous years. 'I’ve been trying to sell my home for about two and a half months,' Hernandez said. 'There are three other houses for sale in this neighborhood alone. I think homeownership can be scary for people right now with the way prices are, and people are more cautious about the homes they buy.'"

"One of San Francisco’s most infamous pieces of real estate is suddenly much, much cheaper. At the beleaguered Millennium Tower, which has made headlines across the country ever since the public found out it was sinking in 2016, a condominium was recently listed for $649,000 — a precipitous 41% drop from its $1.1 million sale price a decade ago. It’s not the only condo that’s seen a significant drop in valuation, either: A two-bedroom unit that sold for $1.5 million in 2015 is now on the market for $800,000, a 47% drop, Zillow listings show. But James Testa, a real estate agent in San Francisco, is optimistic about the tower’s future, and says that the luxury condos won’t be this affordable forever. 'Generally, Millennium Tower is a fantastic deal right now,' he told SFGATE."

"Florida homeowners are currently struggling with skyrocketing premiums after several private insurers either cut coverage in some of the state's most vulnerable areas or withdrew from the state entirely in the past few years. 'People are hurting,' wrote Chris M. in an email to Newsweek. 'No one wants to pay that much money for insurance. I live on a fixed income. I can't sell my house, and I can't refinance. If things don't change I might have to walk away.' 'It's out of control. It's completely off the charts,' homeowner Jennifer Fehrs told Fort Myers' WINK News."

"The buying and selling of homes usually involve a lot of people. So, when home sales drop by more than 24 percent, which they have in the last year in the New Orleans metro market, the impact is deep. T'he real estate industry is a big factor in the overall economy. It’s sluggish right now and it’s bringing down the entire economy,' said Drew Remson. Remson owns and is president of America’s Mortgage Resource, a New Orleans-based lending company. He says post-pandemic interest rates have dealt the local housing market a gut punch, and the soaring cost of property insurance in Louisiana has put it in a chokehold. 'This is a very painful time. I’m in my 28th year as an owner. We have never had a downturn that lasted this long and has been as deep. This includes the ‘08 meltdown of the entire financial industry. This includes Katrina, which basically flooded the entire city of New Orleans,' Remson said."

"From coast to coast, customers who purchased brand new homes with D.R. Horton say their homes are riddled with constant problems, creating a massive safety hazard and taking a toll on their livelihood and bank accounts. 'I can say D.R. Horton, they have left a very bad taste in my mouth,' Georgia homeowner PJ Skipper said. 'Here in my neighborhood, a lot of people have sold their homes,' Skipper said. 'They figured it’s just best to sell and get out. I was like, man, this is turning out to be a house from hell. ' 'I’ve never had the house that I paid for,' Florida D.R. Horton homeowner Danielle Antonucci said. In Sarasota, Florida, Antonucci moved into her D.R. Horton home in 2022. Her problems began almost immediately with major structural problems inside the home, incorrect materials used and mold inside the walls from water damage. 'You didn’t give me the brand new house that I bought,' Antonucci said. 'I worry in three or four years, am I going to have a house full of mold in my walls?'"

"In the Lowcountry, not only has there been no enforcement action against D.R. Horton, but inspection reports show inspectors signed off on homes with known problems months before homeowners moved in. The latter feel like with the responsibility on their shoulders, it’s added insult to injury. 'We’re left as the homeowners pulling the bag,' Skipper said. 'Most of the time, it has to come out of our pocket.' 'These stories are heartbreaking. They ruin families, financially, physically, emotionally, mentally, all of that, it’s devastating,' Antonucci said."

"Tides Equities has lost an apartment complex in Las Vegas to its lender, Newpoint, which foreclosed on the property for less than half of its 2022 purchase price, The Real Deal has learned. Plano, Texas-based Newpoint Real Estate foreclosed on the 176-unit Tides at Walnut Park on Tuesday morning with a credit bid of $18.8 million, according to state foreclosure records. 'We were working with the lender on a modification there but didn’t get enough relief from them via a mod,' Tides principal Sean Kia said in an email. 'We were not willing to put in good money after bad as the math didn’t make sense based on the current mod.'"

"Tides, which pools money from investors to buy apartments, mostly across the Sun Belt, has lost a rash of properties over the last couple of months to foreclosure. The firm capitalized on low interest rates between 2020 and 2022, buying up thousands of apartments using floating-rate debt, with plans to renovate quickly and hike rents. But once interest rates soared, so did Tides’ monthly debt bills. Rents in some of Tides’ core markets also started dipping, making it difficult for the firm to raise rents as fast as it intended, to keep up with rising debt service. The firm was not alone as many syndicators, including Austin-based GVA Real Estate, found themselves in similar positions. By taking over the property at $18.8 million, all equity in the deal has been wiped out. Newpoint also took a loss on the deal — more than 50 percent of its original loan."

"New condo sales in the Toronto region have plunged to their lowest level in nearly three decades, with prospective buyers refusing to pay the expensive asking prices or struggling to qualify for a mortgage because borrowing costs remain relatively high. Edenshaw Developments, which is currently developing 4,000 condo units in the Toronto region, put three project launches on hold because of the lack of demand. 'Buyers are sitting there. They’re waiting. But they are just not confident,' said David McComb, the company’s chief executive. 'There needs to be something that’s going to occur that’s going to give the confidence back to the investor.' Over the past 12 months, developers completed building just over 28,000 condo units. That is a near record high and adds more condos to the Toronto market that is already inundated with a flood of resale units."

"Despite the Bank of Canada’s quarter-point cut to its key interest rate, the market remains slow. A lack of urgency from buyers has led to nearly all property types sitting on the market for longer and prices decreasing for some home types. The cool market has seen some sellers resorting to taking a loss. A condo listed for 10 times finally sold in Mississauga but only after taking a $125,000 loss. A Mississauga home at 11 Pierpont Place in Meadowvale is an example. It was listed for $1,150,000 on April 24. But after no takers, the property was re-listed on July 17 for $899,000 — a $251,000 price drop, according to Zoocasa. Other homes with price drops include an Oakville house that saw a list price plummet by $500,000 in a month."

"In a recent episode of the BBC's Homes Under the Hammer, one property owner shared his regrets about purchasing a particular house. The two-bedroom Suffolk home was inspected by BBC's Tommy Walsh before being snapped up at auction for £101,000, with viewers getting a glimpse of the extensive mould problem within. Reflecting on the experience, the homeowner admitted: 'Well, it has certainly been an eye-opener and I've acquired a lot of knowledge. But had I known all those things, I would not have brought it.' The man also disclosed that he hadn't set foot inside the house prior to the auction purchase. When asked by the BBC presenter if he was pleased with his find, he responded: 'No, I personally wasn't not at all! It was a real shock. He lamented: 'I thought, 'Oh my word, what have I let myself in for?'"

"Tenants hoping to find cheaper rents would have to move to Melbourne’s outer suburbs or Victoria’s regions to lease a house for less than it cost a year ago. In Sorrento, the median asking rent has dropped by 17.2 per cent to $700 a week. Quantify Strategic Insights head of data Angie Zigomanis added that holiday homes in areas like Sorrento and Safety Beach may have been put on the rental market to help generate extra income for homeowners struggling to pay their mortgage. 'It might well be that some of these properties that were completely held as holiday homes are actually finding their way onto the rental market because the owners need to generate income,' he said."

"Buxton Mornington Peninsula agent and auctioneer Clayton Smith told The Age he had seen more holiday homes put up for rent, causing supply in holiday destinations like Sorrento to outstrip demand for long-term rental properties. 'Land tax is part of it. There are a few people that own a house down here, who historically wouldn’t have offered their home for rent, but are just trying to claw back some of the expense … there’s a bit of oversupply,' he said."

"Hong Kong developers continue to rely on attractive pricing as a strategy to clear their swollen stock as interest-rate cuts and a stronger economic recovery fail to materialise, according to analysts and the latest price lists for sales that are soon to launch. New price lists for New World Development (NWD) and Far East Consortium's Pavilia Forest III project in Kai Tak and Early Light International Holdings' The Uppland in Tuen Mun both have average prices per square foot well below recent launches in nearby developments - by more than a third for Pavilia Forest III and 10 per cent for The Uppland."

"'It's definitely a buyers' market now,' said Martin Wong, senior director and head of research and consultancy for Greater China at Knight Frank. 'Currently, price cuts are the most effective way to drive sales, as buyers have many options.'"