Sellers Know That Things Have Changed, But They Are Also Looking Back With One Eye

A report from WTXL in Florida. “The housing market in Tallahassee is moving toward a more balanced market, according to housing experts, as the city sees more housing construction. ‘Well, we’ve got more competition. If you’ve got more listings to choose from — things used to fly off the shelves in like one week because we didn’t have a lot to choose from. But nationwide, we’re seeing a surge in listings and then not an increase in buyers,’ Hettie Spooner said. ‘We’re seeing also where listings are staying on the market longer. We’re seeing more price reductions. Things are on the market longer and so it’s giving the buyer the leverage to go in and say, ‘Hey, I’m not going to offer you full price and maybe I need closing cost assistance.'”

The News Press in Florida. “In March, the number of recorded sales in Lee County dropped by 11.4% since March 2024 — from 2,203 to 1,951. Looking only at single-family homes, the $389,262 median selling price in Lee County was down 2.7% in March from $400,000 the month prior. Since March 2024, the sales price of single-family homes was down 5.1% from a median of $409,950. Condominiums and townhomes decreased by 9.4% in sales price during March to a median of $290,000 from $320,000 in February. Compared to March 2024, the sales price of condominiums and townhomes was down 14.5% from $339,000.”

Community Impact. “During a June 17 Greater Houston Builders Association luncheon, Zonda Chief Economist Ali Wolf said Houston’s housing market is stabilizing after a period of volatility, but today’s ‘average’ conditions still require incentives to drive sales. In Houston, she said, most builders still describe demand as ‘slower than expected.’ Zonda’s Market Ranking shows Houston and other Texas metros, including Austin and Dallas, as ‘average’ performing. ‘We’re in a market today that lacks any sense of urgency,’ Wolf said. Wolf said public builders like Lennar and D.R. Horton dominate Houston’s top-selling projects and are driving price adjustments. ‘They will typically lead in pricing coming down,’ Wolf said. ‘This is the year for margin compression. Builders are not being as aggressive on new spec starts … especially if every home sale is coming with some kind of incentive or a price cut.'”

The Denver Post. “Despite soaring inventory, at its highest level statewide in Colorado since 2019, sales remain stagnant as buyers grapple with high interest rates. Colorado recorded 31,268 active listings in May, up 27% from May 2024. Cooper Thayer, a broker associate with the Thayer Group in Castle Rock, said higher costs keep homes on the market longer, causing a ‘pile-up’ effect. ‘The result is a whopping 4.2 months’ supply of inventory, setting a near-15-year record high,’ Thayer said. Kelly Moye of Compass compared the market to running on a treadmill: ‘Active but not going anywhere.’ Julia Purrington Paluck, an Evergreen realtor, said the mountain metro market is experiencing its highest inventory in a decade. ‘In the foothills, we usually see peak inventory in August or September. But, as of the end of May 2025, we’re experiencing the highest level of active listings in over a decade – about 36% more homes on the market compared to May 2024, and more than double what we saw in May 2023. High supply and low demand indicate this won’t last,’ she said. ‘The laws of supply and demand suggest we’re headed for some price adjustments.'”

The Weekly Voice. “In 2024, Canadians accounted for 13 percent of all foreign residential property purchases in the United States, topping the National Association of Realtors’ rankings. But by early 2025, the tone had shifted. Realtor Miles Zimbaluk, who runs real estate services for Canadians in Arizona, said inflammatory rhetoric about annexation and rising economic uncertainty have turned many north-of-the-border buyers away. ‘People have absolutely been turned off,’ he said, noting that over 700 Canadian-owned homes were listed for sale in Maricopa County in Q1 2025, compared to just 100 during the same period in 2024.”

“The decline in Canadian demand is now particularly noticeable in areas like Palm Beach, Florida. ‘There’s definitely a drop,’ said Jeff Lichtenstein of Echo Fine Properties, attributing it to both uncertainty and a fading sense of welcome. Some Canadians have even reported experiencing hostility. Zimbaluk said there have been instances of notes left on cars with Canadian plates, adding to the growing discomfort. ‘It’s not about safety, it’s about the atmosphere,’ he said. ‘There’s just so much uncertainty. Everyone is trying to find their own way.'”

Times of San Diego in California. “On June 16, the San Diego City Council voted 5-4 to amend the controversial Accessory Dwelling Unit Bonus Program. The program attempts to create more affordable housing without over-development, but residents we heard from via email and social media were not sure the benefits outweighed the disadvantages. Bill Zent of Pacific Beach agrees that more needs to be done to regulate ADUs. ‘I have read the amendments and I feel they leave the door open on excessive units on a property,’ he said. ‘There should only be one unit allowed. It should be single-story with parking provided on the parcel. No two stories are allowed, as it impacts backyard privacy. No one would have a problem with a single ADU. However, these build-outs change the neighborhood and can affect a home’s value.'”

“‘They are building six ADUs next door,’ noted Judi Curry of Sunset Cliffs. She asked, ‘Where are those people going to park? What will happen to the water shortage? What will the noise be like? That’s in addition to making the one-story house a two-story house with a sundeck on top. It was allowed to happen. How? Why? Who benefits?'”

The Globe and Mail in Canada. “20 Claudview St., King City, Ont. Asking price: $1,399,000 (March, 2025). Selling price: $1,300,000 (May, 2025). Previous selling prices: $1,335,000 (October, 2023); $1,325,000 (December, 2022); $968,000 (December, 2017); $534,504 (December, 2013). This three-bedroom townhouse about 50 kilometres north of downtown Toronto was posted for sale with an asking price a shade under $1.4-million less than a year and a half after the owner paid $1,335,000 for it. They fully expected buyers might push for an even lower price. Working with one of the home’s few visitors, they agreed to a sale price of $1.3-million – $35,000 less than what they had paid in 2023. Real estate agent Ira Jelinek said the outcome had to be seen in the context of current market conditions. ‘Real estate in that area does really well in a good market and holds its own in not such great markets,’ said Mr. Jelinek. ‘Like if someone bought a condo in 2023, its [value] might be down 20 to 40 per cent. Here, they’re down maybe 2 per cent.'”

Durham Post in Canada. “Overbidding for homes in Durham Region continued to take a downward turn in May, compared to the previous month, as more Durham neighbourhoods saw homes selling for under asking. In May, 26 per cent of the neighbourhoods in Durham Region were in overbidding territory, down from 30 per cent in April, while 74 per cent moved into underbidding territory, up from 60 per cent. There were no neighbourhoods where homes were selling at asking, compared to 10 per cent the previous month. Two of the top-5 most underbid neighbourhoods in May are in Oshawa, while the remaining three are spread across the region. Windsfield, Oshawa is the most underbid, with a median sold price of $1,049,900 and a median underbid amount of -$31,500.”

The Cabo Sun. “For the global elite, the southern tip of the Baja California peninsula has become a byword for sun-drenched luxury. But behind the gates of multi-million-dollar villas and gleaming new condominium towers, a starkly different reality is unfolding. Los Cabos is in the grip of an unprecedented real estate boom, cementing its status as Mexico’s hottest market while creating an increasingly desperate and unaffordable housing crisis for the local community that serves its thriving tourism sector. According to Karim Oviedo Ramírez, the national president of the Mexican Association of Professional Realtors, new projects with entry points between $350,000 and $500,000 USD (7 to 10 million pesos) are now the norm, placing Los Cabos at the apex of Mexico’s property value chain. ‘For our association, Los Cabos is a strategic municipality because it has many investments,’ Oviedo explained. ‘It is an important place to invest, generating good returns.'”

“The situation provides a sharp contrast to Tulum, another of Mexico’s famed destinations. For years, Tulum’s market was narrowly focused on a trendy, ‘eco-chic’ luxury niche. That over-concentration created a bubble, and with an oversupply of similar high-end properties and infrastructure failing to keep pace, its market has cooled considerably.”

The Times in the UK. “Vicki Couchman urgently needs to sell her 90-year-old mother’s three-bedroom bungalow, in the tranquil village of Whitwell, on the south of the Isle of Wight, so she can afford to pay for her care. During the Covid-era ‘race for space,’ when city movers flocked there, it would have been snapped up in a matter of days. However, now the sleepy housing market on the island — where taxes have decimated demand for properties — means she fears she will have to accept a low offer if, indeed, she manages to sell it at all. Vicki thinks her mother’s bungalow, which is 15 minutes’ drive from the beach and is near the seaside resort of Ventnor, was worth £350,000 during Covid but, thanks to the sluggish nature of the market today, she has chosen to put it on the market for £280,000 — and their need to sell is pressing after her mother’s health declined suddenly in the autumn.”

“Gwynedd has seen average sale prices tumble by 18 per cent, while in Havant, Hampshire, they are down 17 per cent. James Toogood, a director in Savills’ country house department, says sellers need to be more realistic and realise we’re not in 2021 any more. ‘I think that in their heart of hearts they know that things have changed, but they are also looking back with one eye. It is tough to take.’ In Wales, Carol Peett, the managing director of West Wales Property Finders, who was mobbed with buyers in 2020 and 2021, suspects the buyers who were throwing money at coastal homes were dimly aware they were overpaying in 2021, but their burning desire for a lifestyle change quelled any doubts. ‘They just wanted to escape,’ she says. ‘They were doing it for lifestyle, not for profit.'”

From CNBC. “China’s real estate sector has grappled with a deepening downturn for years. Now a shrinking population is casting another shadow over the stagnant property market. A mother of a 7-year-old boy in Beijing told CNBC that the price of her apartment had fallen by about 20% from over two years ago when she bought it. It cost her roughly twice the average price for an apartment in the city, so that her son could attend a good elementary school.”