A report from WPTV. "We dug into the data and discovered that both nationally and in South Florida that home sales and prices are down. Ask anyone trying to sell a home in our area, and they'll tell you the days of fast selling at any price are over. Diane Easter has had her two-bedroom and two-bath home in the Whisper Walk community, located west of Boca Raton, on the market since March. It was first listed at $280,000 and now it's down to $247,000, she said. 'Every time we lower ours, people down the street and behind us, they lower theirs too,' Easter said. 'It's like they're watching it.' Real estate advisor Sera Peat met WPTV outside a Lake Worth condo that's been on the market for four weeks. 'It is a buyer's market,' Peat said. 'I think for sellers it's a little more challenging right now. The houses are sitting longer, many have taken them off the market or listed them for rent.'"

The Denton Record Chronicle. "Market interest rates have helped to bring more inventory back to the market. We’ve seen record amounts of inventory across many North Texas submarkets this summer. But don’t fret. The sky is not falling. Denton’s housing market is not collapsing. It’s responding to market fundamentals. There were 5.2 months of supply in Denton. We’ve likely seen the peak for inventory this year with seasonality setting in. Median price per square foot fell by 5.1% in July. Average price per square foot was down 4.5% year over year in the city of Denton. Area homebuilders continue to make deals to move new homes. Juicy incentives and mortgage rate buydowns helped to lower the median price per square foot for a new house in Denton County by roughly 10% from last year. Median rents were down 3% in the city of Denton. Apartment List shows asking rents down 4.1% from last year in Denton. It’s not uncommon to see one to two months of free rent at many area apartment developments. Abundant supply breeds competition. Renters in Denton now have a host of options to choose from. Conforming loan limits are still wildly disconnected from average U.S. home prices. Wildly inflated loan limits are now 61% higher than what most average new home shoppers can afford."

The Denver Post in Colorado. "According to a recent DMAR City and County Market Trends Report, in July the median sales price was down 1.2% to $630,000 for single family homes and 6.5% to $392,500 for townhouse-condo properties. Days on market increased 25% for single family homes and 44.7% for townhouse-condo properties. Last month, there was approximately 13,897 single-family inventory of active listings, up 13.6% from the same time last year. Amanda Snitker, a residential real estate agent in Denver said metro housing data revealed inventory and days in MLS are both rising, while buyer activity has slowed. Buyers in the Denver market have a meaningful opportunity: more inventory, slower competition and stable pricing create space for strategic moves, said Snitker. 'There is less pressure to rush into decisions, especially in higher price brackets,' Snitker said."

The Union Tribune in California. "There’s a good chance a home purchased in San Diego County last year is now worth less. The median home price was $900,000 in June, according to Attom Data Solutions, which combines sales of single-family homes, townhouses and condos. It’s down $15,000 from the same time last year and marks the fourth month in a row, based on revised data, where the median was unchanged. Month-to-month fluctuations are common, but it is rare for the annual price to drop. The last time this occurred was two years ago. San Diego isn’t alone with a continued sluggish real estate market, which has been affected by higher mortgage rates, elevated home prices and few sales. 'People are just hesitant right now (to buy),' said Raylene Brundage, a North County real estate agent. 'Anybody I talk to is just saying, ‘Wow, this market is brutal right now.’"

"There were 2,307 home sales in June, way down from historical norms during the busy summer buying season. Yet it was an improvement from the same time last summer when home sales cratered to 2,169, marking the slowest June in Attom data going back to 2005. Brundage said mortgage rates still are a big factor in potential buyers pulling the trigger. She joked that any slim hope of a buyer’s market starting would be hamstrung by the fact there aren’t any buyers. Given San Diego’s high home prices, buyers could still face sticker shock. For example, the monthly payment for a median-priced San Diego County home would be around $5,000 in June (with mortgage rates at the time) — and that is assuming a 20% down payment of $180,000.There were 7,257 homes listed for sale in San Diego County in June, its highest level in recent memory. At the same time last year, there were 5,337 active listings; 3,488 listings in 2023; and 5,274 in 2022."

From Silicon Valley in California. "The owner of a Berkeley apartment complex that faces foreclosure has filed for bankruptcy in a legal gambit meant to delay a lender’s efforts to seize or auction off the property. The 97-unit University Park Apartments had been headed toward an auction and foreclosure over a $28.3 million loan provided in 2023 by Terra Property Trust. Those efforts now face an uncertain timeline after the property owner, an affiliate of Academy West Investments, filed for Chapter 11 bankruptcy to reorganize its finances. An affiliate of Academy West Investments bought the five-story apartment complex at 1709 Shattuck Ave. in 2020 for $34 million, documents on file with the Alameda County Recorder’s Office show. Academy West specializes in student housing and apartment investments and is affiliated with Sunstone Development. In 2018, real estate executives Blake Wettengel and Tanya Muro formed Academy West."

"At the time the Academy West affiliate bought University Park Apartments, the company’s executives touted its proximity to UC Berkeley. 'We thought the location of the property was unsurpassed since it’s within a 2-minute walk to campus and near downtown, a major transportation center, and an arts and cultural district,' Muro said. Academy West was also betting on the long-term trend of housing supply constraints in the area."

From Bisnow. "The retail portion of The New York Times’ former building has a new owner a year after the Kushner Cos. lost it to foreclosure. The undisclosed buyer — a high net worth individual, according to sources familiar with the deal — acquired the asset for just $28M, according to a press release. The price is less than a 10th of what Kushner paid for the multilevel Midtown Manhattan retail condominium less than a decade ago. Kushner acquired the 248K SF retail condominium at 229 W. 43rd St. for $295M. The next year, it refinanced its mortgage with a $370M loan package from Deutsche Bank and SL Green. At the time, it was valued at $470M."

The Globe and Mail in Canada. "Buyers and sellers in the Toronto-area real estate market this summer appear to be growing restless following many months of angst. Overall, Patrick Rocca, broker with Bosley Real Estate says the summer has been busier than he expected after a typical pace for June. Homes that show well and are well-priced sometimes draw multiple offers, he says, but many people are also striving to pay less than the asking price. 'We’ve still got a lot of buyers who are looking for a steal.' The strategy of setting an attention-getting asking price and a date for reviewing offers is hit-and-miss in the current market, adds real estate agent Dino Capocci of Royal LePage Real Estate Services. Mr. Capocci tried that tactic in Bedford Park earlier in the summer when he listed a semi-detached house with an asking price around the $1.49-million mark. The highest of two offers was $1.42-million, he says, which is less than the sellers paid for the house seven years ago. 'It failed miserably,' says Mr. Capocci of the offer date, when the sellers rejected both bids. The house sold for $1.47-million three weeks later after lengthy negotiations with a third buyer."

"Meanwhile, the lagging condo sector has likely been acting as a drag on other parts of the market, Mr. Capocci says. In the past, first-time buyers would build up some equity in a condo unit and use that as a stepping stone to a single-family home. But with prices sliding, many owners no longer have that option. 'The condo owners are now under water. They’re not buying the bigger house.' Looking towards September, Mr. Rocca is expecting a fairly brisk tempo of sales. 'I’m fielding lots of calls from people who want to sell,' he says. 'Others wonder if they should wait until spring.'"

BC Business in Canada. "The four-storey Chloe condo project off Vancouver’s Arbutus Greenway was once marketed as a boutique, Paris-inspired luxury residence. Now, less than a year after completion, it’s become one of the city’s most closely watched receivership cases. According to reporting by the Vancouver Sun, the developer, Lightstone Development, owed more than $90 million in secured debt when court-appointed receivership proceedings began in February. That makes the case highly unusual, says Vancouver real estate agent Suraj Rai, who is following the proceedings closely. 'Rarely do you see a completed building going through foreclosure, certainly not in Vancouver.' Rai says the remaining units will be marketed in the coming weeks at prices ranging from $750,000 to $2 million, or about $1,500 per square foot on average. That represents roughly a 25 percent drop compared with the $2,100 per square foot that presale buyers agreed to pay several years ago."

"'The pre-sale selling price was at the ‘high-times’ of real estate, when people thought it would never come down. Now, it’s back down to earth. Though $1500/sf is by no means cheap.' Rai explains that the debt on the project is 'piling on at $16,000 a day,' adding that the court documents specifically say that the receiver intends to move the units out without delay because of said debt. The Chloe is not an isolated case, Rai cautions. 'There’s lots of foreclosures and receiverships, and I’d bet dollars to donuts, there’s more on the way.' Still, he emphasizes the quality of the finished product. 'I want to make this clear: They failed financially. But the building is absolutely gorgeous on the inside. They failed because they spent too much, making it too nice, and the market flipped on them.'"

From Chosun Biz in Korea. "In the first half of this year, the number of 'unsold units after completion' in the five major metropolitan cities has surged compared to last year. Unsold units after completion refer to complexes where apartments have been fully constructed but remain unsold. The number of unsold units after completion in Daegu has more than doubled compared to last year, and most major metropolitan areas such as Busan (89.9%) and Gwangju (59.9%) also saw an increase in unsold units after completion. According to the Ministry of Land, Infrastructure and Transport and Woori Bank's WM Sales Strategy Department on the 18th, the number of unsold units after completion in Daegu as of the end of June was recorded at 3,824 units. This figure represents an increase of 2,189 units (133.8%) compared to a year ago in June 2024 (1,635 units). This means the unsold units after completion have more than doubled over the year."

"Kim In-man, head of the Kim In-man Real Estate Economic Research Institute, noted, 'The complexes currently experiencing unsold units problem are those that started the project 4 to 5 years ago, around 2020-2021,' adding, 'They assumed the real estate boom would continue and took project financing (PF) loans, resulting in oversupply, the side effects of which are now becoming apparent.' Nam Hyuk-woo, a researcher at Woori Bank's WM Sales Strategy Department, also mentioned, 'The significant oversupply, where the number of available units greatly exceeds demand, combined with relatively high selling prices, is contributing to the continuation of large-scale unsold units in major metropolitan areas.'"