A report from KOMO News in Washington. “Sale prices for new homes fell 12.1% year over year in the Seattle metro area in the third quarter, according to a new report. The report also found the price per square foot for new homes fell 7.1% year over year in the third quarter to a median price of $285 per square foot. There was also a significant year over year increase in the number of residential building permits.”

The Oregonian. “With a slower market, buyers feel they have more power than in the past to negotiate on price, repairs or closing costs, especially in the condo market. Condo shoppers have more to choose from, are spending more time looking and are writing lower offers, said Tanya Smith of Redfin, who has listed a 907-square-foot condo in the Meriwether building in Portland’s South Waterfront at $410,000.”

“‘They feel they can take their time and they are nervous that we may be at the top of the market,’ said Smith. ‘People are afraid to buy high, especially first-time buyers.’”

The Denver Post in Colorado. “Home sellers in metro Denver appear to be trying to squeeze every last drop out of a historic run-up in prices. But in doing so, they risk getting squeezed themselves. In the past seven days, through Thursday, 1,433 new homes and condos came on metro Denver’s multiple-listing service. But in that same stretch, 1,539 listings underwent a price decrease, notes Anthony Carnesi, CEO at Keller Williams Realty DTC.”

“‘The number of price reductions in the six-county area is greater than the number of new listings,’ he said.”

“After botching the initial listing, sellers need to make a dramatic gesture to get buyers interested again. Offering token slivers of price reductions won’t do the trick, Carnesi said. There are other signs of a market shift. A year ago, one out of three homes that went under contract with a Redfin agent in metro Denver had received multiple offers. But in October, only 6.8% of metro Denver homes on the market received multiple offers. Nationally, the number of homes on the market receiving multiple offers dropped from 38.7% to 10.2%, which represented a 10-year low.”

The Midland Reporter Telegram in Texas. “Virtually all categories from September showed a better housing market in Midland County for the buyer, according to the Texas A&M Real Estate Center. The number of homes sold was 220 (down 50 month over month and down 30 year over year).”

“The average price for a home sold was $320,041 (down by nearly $27,000 month over month and down by more than $31,000 year over year). The median price for a home sold was $296,000 (down by $19,000 month over month and down by $4,000 year over year). Also, the median price was below $300,000 for the first time since February.”

“The total number of homes available at the end of the month was 632 (up 23 month over month and up 240 year over year). The total number of listings is the highest in any month since October 2016, according to the Real Estate Center.”

From Mingtandi on New York. “Singapore-based Alpha Investment Partners has agreed to buy out its partner’s stake in a luxury condo project in Manhattan’s Upper East Side just over three years after the joint venture began selling homes. The move comes as the average sales price for Manhattan apartments fell 22 percent in the third quarter of this year, compared to the same period in 2018, the steepest decline since the 2008 financial crisis, according to a report by real estate consultants Miller Samuel.”

From Miami Community Newspapers in Florida. “Attending a symposium in Broward last month, a successful realtor shared an anecdote about a client to whom she strongly suggested professional home staging prior to listing the property. The seller responded that she didn’t want to spend money on staging and was in ‘no hurry to sell her house.’ The realtor told the seller to call back when she was indeed ready to sell. While this may sound harsh, realtors are not interested in marketing the property of a completely unmotivated seller.”

The Los Angeles Times in California. “There’s a whole lot of price cutting going on in the multimillion-dollar home market. It’s typical for this time of year by sellers hoping to rap up a deal before year’s end. Among notable price choppers we recently spotted are a singing show creator and an NBA head coach. Those who don’t sell now will likely be taking their places off the market soon so they can start the New Year as a ‘fresh’ offering.”

“P is for price cut. The Montecito home of late author Sue Grafton is back on the market for $6.999 million. It’s the two-acre property’s second price cut after listing for $8.5 million at the beginning of the year.”

The Chico Enterprise-Record in California. “Residents throughout Butte County are still struggling to find housing answers for their situation. More than a year since the Camp Fire, planning for the future for some folks is still a day-by-day occurrence.”

“We’re seeing houses for sale staying longer on the market. They aren’t being scooped up as they once were, prompting sellers to reduce the prices that perhaps were overpriced originally. So what’s really needed and who can afford it?”