Newsday reports from New York. "Housing sales for spring, usually the busiest buying season, didn't bloom quite as well this year for Long Island and Queens market, according to a report from Miller Samuel. The biggest drop in prices came from North Shore's luxury market, an 11.3 percent fall over a year ago in the top fifth of sales prices."

"'There's this underlying weakness in the market, as evidence by rising inventory and slipping sales,' said company president Jonathan J. Miller. 'The second quarter, that's the spring market, the most active of the year, and we saw a fall off. You put those two elements together, and it basically says we probably have more weakness to go.'"

The New York Post. "Residential real-estate sales...in Queens appear to be mirroring the rest of the nation's housing slump. Weakening prices, rising inventory and declining sales were prevalent during the previous 12 months, with only a few pockets of categories posting positive growth, according to Prudential Douglas Elliman."

"The median sales price of a Queens residential property this quarter was $469,000, down 4.3 percent from a year earlier."

"Overall, the number of sales in Long Island fell 5.6 percent in the past quarter to 8,694 residential units, compared to 9,210 units sold a year earlier."

"Meanwhile listing inventory increased over 10 percent to 36,610 units from the prior year quarter total of 33,141 units, up 91.5 percent compared to the same period 2 years ago. Price levels were down slightly this quarter, compared to the same period last year."

The Boston Globe from Massachusetts. "The spring real estate market was a washout. Home sales in Massachusetts tumbled as much as 8 percent in June, and prices also dropped during that key month in the real estate cycle, according to two reports yesterday, virtually ensuring that 2007 is going to be another down year in the industry."

"'We're going to be on a continued decline at least through the end of the year,' said Alan Pasnik, the real estate analyst for Warren Group. 'I don't see what's going to change that,' given June's poor results, he added."

"June is a key month because deals struck in the spring are usually closed then."

The Boston Herald from Massachusetts. "Jeff Wilson has done some $40,000 of work on his Dedham two-family and knocked $20,000 off the asking price, but still can’t find a buyer. 'We thought we listed it at a cheap price - but then the market fell further,' said Wilson, whose property has been up for sale for some five months."

"The Warren Group reported yesterday that Massachusetts two- and three-family house sales recorded their worst second quarter in 16 years."

"'It’s bad,' said Alan Pasnik, head of Warren’s data analysis. 'A few years ago, you’d buy one of these places, turn it into a three-unit condo and make a 50 percent profit or more. But now, the market is falling.'"

"The slowdown has particularly hit Boston neighborhoods hurt by the subprime-mortgage market’s collapse. Warren said two- and three-family home sales fell 55.2 percent in Mattapan, 48.6 percent in Roxbury and 37.5 percent in Dorchester."

"Experts add that it’s often no longer profitable to buy two- or three-families and turn them into condos or rentals. 'Twenty-five years ago, people would say, 'I can buy a two-family and pay hardly anything each month because I’ll rent half of it out,' said Hyde Park broker Pat Tierney. 'That isn’t happening right now.'"

The Daily News Transcript from Massachusetts. "Sales of homes and condominiums in Dedham and Norwood have continued to slump this year, mirroring the weak housing market statewide. The Warren Group said sales from January to June in Dedham and Norwood were the lowest during that period - as well as for the month of June itself, since 2003."

"Sales in Dedham were down 15 percent during the first half of 2007 and in Norwood they were down 4 percent, the report said. Dedham also saw a 40 percent drop in condo sales."

"'If you are a home seller or a mortgage lender, this has to be disappointing,' said Terry Egan, editor in chief of publications for the Warren Group. 'I think early on in the year there had been predictions in some quarters that things would be getting better, but then interest rates picked up in May. It's a general malaise and we have seen prices working their way downward for over a year now.'"

"'It's really statewide now,' Egan said. 'There are a few pockets doing well, but now even the western part of the state is starting to feel it.'"

"In Dedham and Norwood, housing prices, along with the number of properties sold, dropped to their lowest levels since 2003."

"The median price of a single-family home in Dedham dropped from $380,000 in the first half of 2006, to $345,000 in the first half of 2007. In Norwood, median single-family home prices dropped from $375,000 in the first half of 2006 to $353,500 in the first half of 2007."

"Westwood and Walpole both saw median single-family house prices drop. In Westwood, the median price dropped from $550,000 in the first half of 2006 to $524,000 in 2007. During the same period in Walpole, sale prices dropped from $409,950 in 2006 to $401,500 in 2007."

"'Because of the housing stall, prices have dropped, but buyers know sellers are not going to give things away and interest rates might go up soon,' said Hope McDermott, a real estate agent in Dedham."

"'Prices have come down because they were overpriced to start with, but now brokers are coming in with a more precise number to start with,' said Jerry Armstrong, of RE/MAX in Norwood."

The Telegram from Massachusetts. "The Massachusetts Association of Realtors reported second-quarter sales of single-family homes was down statewide...from a year ago. That is a letdown from the first quarter this year, which saw sales of homes and condominiums up more than 2 percent from the previous year, MAR said, when real estate agents were optimistic of a strong spring buying season."

"'While it was not as strong as we would have liked, it was the fourth-strongest second quarter on record in Massachusetts,' said Doug C. Azarian, MAR president . 'The decline in sales and prices started late in the second quarter last year. Until then, we were seeing peak highs. Now, we’re seeing a solid year of declining sales compared to the peak.'"

"The median (single-family home) selling price for the second quarter was $355,000 in the state, down 1.4 percent from $360,000 a year ago. According to MAR data, the peak median price of a single-family home was $370,500, in the third quarter of 2005."

"'Even though we’re looking at price decreases, they’re slight. I think people five years from now will look back and say they should have bought in 2007. There’s still a fair amount of inventory, but not too much....Sellers will see that the market is slow and that they’re not going to get the appreciation they had hoped for. They’re lowering their prices, and should be ready to take what the market will give,' said Mr. Azarian."

"Mr. Azarian said that interest rates are still low, and said the high foreclosure rate, though adding to the inventory, has not had a significant drag on prices."

"'It appears that lenders are working with Realtors with experience in those kinds of properties,' he said."

The Associated Press. "Massachusetts would offer extra protection for homeowners close to losing their houses under legislation endorsed yesterday by Senate leaders, in the latest move to help people after a sharp rise in foreclosures in the state."

"Mortgage brokers would have to obtain a license to work in Massachusetts and mortgage fraud would become a felony. The measure would crack down on deceptive advertising, give homeowners a last-minute opportunity to avoid a foreclosure auction and require borrowers to educate themselves to risks."

"'This is going to make the brokers think twice before they try to fudge numbers,' said Sen. Stephen Buoniconti, chairman of the Financial Services Committee. 'Right now, there’s such an urge to try to get people to close loans.'"

"Foreclosure petitions jumped nearly 70 percent last year to nearly 19,000 in Massachusetts, bringing the state’s historically low foreclosure rate in line with national figures. On the Cape, foreclosures have reached the highest level in more than a decade."

"The Senate bill also proposes the creation of a state subsidy for businesses that pay portions of employees’ housing costs. But the measure does not include an appropriation of funds to support the program."

"Senate President Therese Murray described the bill as a complement to Gov. Deval Patrick’s plan to curb foreclosures by raising cash through bond sales."

"'There is no bailout in this bill, which is telling,' Murray said when asked to compare the measure with Patrick’s plan."