A housing report from the Kansas City Star. "The metropolitan housing market was down again in October compared with last year’s booming pace but still did better than the nation as a whole. The number of single-family unit permits issued last month was 666, down 39.7 percent from October 2005, according to the Home Builders Association of Greater Kansas City."

"Kansas City is behind the pace that led to five consecutive years in which more than 10,000 units of single-family housing were built from 2002 to 2005. 'The biggest concern locally is that too many consumers, municipalities and even home-building professionals are making decisions locally based upon what is happening in Phoenix and Atlanta, not what is happening in Kansas City,' said Tim Underwood, the association’s executive VP."

"There were 5,621 new homes on the market in October, up 7 percent from last year, and 13,863 existing homes listed, up 14 percent from 2005. There were 2,686 new and existing homes sold last month, down 5 percent from October 2005. There were 580 new homes sold, 20 percent fewer than a year ago, and 2,106 existing homes sold."

"Overall, the region had a 7.3-month supply of new and existing homes. There was a 6.6-month inventory of existing homes and a 9.7 month supply of new homes."

The Detroit News from Michigan. "Metro Detroiters (are) nervous about their futures, which kept homebuyers on the sidelines and created an oversupply of homes that can sit months, even years, on the market. Now, comes home price deflation, the worst in the nation."

"'The overall feeling in Michigan is everybody's knees are knocking a little bit,' said Nancy Warson, a Livonia Realtor."

"Would-be homeseller Brian Kurtz knows uncertainty well. The financial planner from Troy has dropped the price on his Sterling Heights colonial by $36,600 to $259,900 and is now paying $4,000 per month for two mortgages. 'It's like trying to sell ice cubes to Eskimos,' said Kurtz, whose home has been on the market since August 2005."

"Warson said buyers are just not out there. One of Warson's clients in South Lyon, who is selling their house for about $500,000, has had only one potential buyer look at it in seven months."

"To jump start the housing market, real estate agents have pulled out all the stops. 'We've seen plasma TVs, we've seen $5,000 bonuses, we've seen cars, we've seen airline tickets. We're about as creative as we can get at this point,' Warson said. 'It's still not driving the market up.'"

The Detroit Free Press. "The nation's top realty agent predicted Tuesday that homeowners could see a rebound in the coming months. Pat Vredevoogd Combs, a Grand Rapids Realtor who became president of the National Association of Realtors this month, said the current market transition, what some call a slump, is good news for buyers."

"'This window of opportunity will continue into the new year, but inventories are starting to decline and sellers will be less willing to negotiate when conditions begin to balance in most areas around early spring,' she said."

"Tell that to Ruby and Willie Jennings, who have been unable to sell their northwest Detroit ranch-style house for the past few months. The Jenningses have cut their asking price to $112,000 from an initial $119,000. 'It was sold, we thought, at one time,' Willie Jennings said. 'The purchaser backed out. No one has made an offer since.'"

From WKRC Cincinnati. " More signs of a housing slowdown. Home prices in the Tri-State fell 2.6% this past summer. Larry Ritzert almost had perfect timing. He sold his old house in Pierce Township a year ago. But he started building his new house a year ago ... and feels today it would cost 20 grand less."

"'In this case we were lucky, on one side, and unlucky on the other, but it balances out,' he said. 'If you can just wait here, you're in good shape don't panic.'"

"Norm Miller at U.C. makes his living watching real estate trends. He sees a slight drop in local home sales and prices. 'It could last several months this paranoia because it will last in California and Florida for a while, so we'll hear about this for at least the next year,' he said."

"The slowdown we're seeing locally is partly about demand. 'It's like getting a new car you don't need one every couple years. That's right so no demand now. You're right the demand was satiated over the last five years,' Miller said."

"Miller does have advice for people trying to sell; he says instead of offering incentives like cars and TV's, lower the price and offer a buyer's agent more commission. However, that's been controversial buyer's don't always realize some homes are being pushed because there's extra money in it for the agent."