What do you see in your local housing market this weekend? Price reductions? "The number of homes for sale on the Jackson market reached a two- year high on Nov. 30, when houses reached an 8.5 month supply at the current rate of sales. That data comes from the Central West Tennessee Association of Realtors MLS. Investors from California and other states have helped prop up Jackson's mid-priced housing market, said Ben Roberts of Crye-Leike Blue Skies Real Estate."

"'I have some (San Jose,) California investors who are buying houses from $110,000 to $130,000,' he said. 'They have done their homework and like the property appreciation.'"

"The number of Madison County homes entered into foreclosure doubled this year from 2006, said Linda Waldon, Madison County Register of Deeds. 'We have never seen this rate of foreclosures since I have been in here since 1990,' she said. 'This is pretty bad for this county.'"

"Effects of the nation's housing decline can be seen in the Memphis real estate market. 'I inspected a house (in Memphis) that sold for $127,000 last week,' said Jim Callicutt of Accurate Home Inspection in Memphis. 'The same plan sold one subdivision over for $165,000 earlier this summer.'"

"Like most other parts of the country, Rhode Island’s housing market has been in decline. When it will rebound is anyone’s guess. 'I wish I had a crystal ball,' said Roger Warren, executive director of the Rhode Island Builder’s Association."

"In Rhode Island, the inventory of unsold single-family houses listed with real estate agents in September rose to 6,883, a 10-month supply, up from a 9.2-month supply in September of last year, according to the Rhode Island Association of Realtors. For the first nine months of this year, the median price was $276,000, down 3.2 percent from the first nine months of last year and the first decline in the January-through-September period in a dozen years."

Or property tax problems? "Valley homeowners upset about the fast rise in their property-tax assessments may feel some relief this year as the latest valuation notices hit their mailboxes. The Maricopa County Assessor's Office says the new round of valuations to be mailed around Feb. 1 will reflect the slump in the housing market."

"Paul Petersen, an assessor's spokesman, said appeals have increased 25 to 30 percent during the housing boom. The combined median prices of new and existing homes increased 55 percent in the Valley from 2004 through 2006, according to Arizona State University."

"But the market turned locally and nationally, and home prices fell in more than half of the Valley's ZIP codes in the first eight months of this year, according to The Republic's latest Valley Home Values study."

Markets related to housing? "The commercial real estate market follows the residential market by 12 to 18 months, according to conventional wisdom. Those 12 to 18 months ended in early 2007. And like the residential market, Southwest Florida's commercial real estate market has begun to slide."

"Both the total number of deals and the total dollar volume in the three-county region were down 30 percent over the 12 months ended Nov. 30 compared with the same period a year earlier, according to county property appraiser data."

"'This summer was dreadful,' said John Swart, VP of commercial sales for Schroeder-Manatee Ranch."

"'The market really fell off late this summer,' said Mark Vitner, senior economist with Wachovia Bank. 'A lot of buyers couldn't raise capital, and that situation hasn't gotten any better. We're not going to see a lot of volume. Prices will continue to come down, and construction will slow.'"