A pair of reports from the north-eastern US. Connecticut, "Facing tougher competition, Greater Hartford homeowners hoping to sell their property may have to consider lowering their asking prices as the number of homes on the market increased for the ninth month in a row."

"The Greater Hartford Association of Realtors reported that the number of single-family homes on the market in its 57-town area rose to 5,296 in May from 4,011 in the same month a year earlier, a 32 percent increase. 'We haven't seen that number of houses on the market since the late '90s, so this is a big number,' said Ronald F. Van Winkle, a West Hartford economist."

"The inventory continues to inch closer to that of the mid-1990s, when the number in Greater Hartford grew to more than 6,000 as the market struggled to pull through a housing collapse."

"Real estate agents said sellers may have to lower their expectations about what their home may sell for, and buyers are starting to gain a bit more leverage in negotiations. 'If a home is on the market and has several showings, and nobody's making an offer..then the reality is they are going to have to look at the pricing on it,' said (realtor) Cile Decker in South Windsor. 'The sellers have to face that reality at some point, and perhaps lower the price.'"

"New listings increased about 12.3 percent from April to May. Van Winkle said the jump could mean that sellers are beginning to anticipate the slowing market."

"'I guess if you're thinking about selling your house in the next year, you're thinking, `Let's get our house on the market before it slows more.' That's part of what's causing the inventory to go up,' he said. 'If you're thinking about retiring or considering selling your house, this might be a good time because we are nearing the peak of the housing market in Connecticut.'"

The Long Island Business News. "Buyers and sellers appear to be in a standoff, according to the latest numbers provided by the MLS of Long Island. Homebuyers are awaiting a price plummet, and now sellers, too, are holding off, many demanding the selling prices everyone recently bragged about."

"The rapid ascent of housing prices appears to be over, at least for now, and while both sides wait for the other to budge, Islandwide inventory is rising. Regional housing inventory spiked more than 50 percent in the last year."

"May’s residential inventory soared to 27,174 regionally, up almost 52 percent from a year ago. Suffolk buyers can pick from 11,817 available residences, up 50 percent from the 7,862 available a year ago. Nassau, meanwhile, has 8,351 available, a 57-percent rise."

"(Broker) Mark Malsky says business is picking up. 'I’m not going to say it’s anything like last year, but it appears to be moving in the right direction,' Malsky said."

"Another agent disagreed. 'This is supposed to be the busiest time of the year and it’s real, real quiet,' said Bart Bleiweiss, an associate broker. 'Buyers are real slow pulling the trigger.'"