A report from The Real Deal on New York. "Extell Development’s One57 has taken another hit. A 6,240-square-foot sponsor unit at the luxe condominium tower sold for $45.8 million, or roughly $7,343 per square foot, according to property records filed with the city Monday. That’s $12.7 million below the last asking price of $58.5 million. The apartment first hit the market in March 2015 for $58.5 million. Anna Zarro, Extell’s director of residential sales and leasing, said in a statement that the unit had gone through 'five price amendments since it was originally offered for sale in 2011.' 'Additionally,' Zarro added, 'a previous purchaser forfeited a deposit on this unit which allowed us to take an even deeper discount than the 10-15 percent that we are currently extending on other upper floor units in the building. It was an excellent deal for both parties.'"

The Philadelphia Inquirer in Pennsylvania. "Philadelphia is making an appearance on rental firm Abodo’s list of decreasing rental rates for the first time this month. Between November and December, prices fell by about 4 percent, according to the firm. Rents in Philly may be down 4 percent, but that’s still nothing compared with Miami, where an 11 percent dip still puts the average one-bedroom rental at $1,569."

The Seattle Times in Washington. "After four years of trudging through brutal rent increases, the Seattle area may finally be ready to see some relief on the horizon. There are strong signs that the price surge in the local rental market peaked in the summer and fall of 2016 and is now in the very beginning stages of a slowdown, according to a report released Monday by Apartment Insights Washington, a leading local rental market surveyor. Rents have even begun to dip compared to a few months ago, with the hottest Seattle and Eastside markets seeing the biggest drop."

"And looking deeper, there are new, encouraging signs that 2017 will be brighter for renters. The vacancy rate — the biggest predictor for future rents — soared in the fourth quarter at its fastest pace since the beginning of the housing collapse in 2008, the last time local rents dropped significantly. The percentage of empty apartments in King and Snohomish counties rose twice as fast as normal for this time of year, as thousands of new units opened."

"Another big sign of an apartment market turning is when landlords start offering perks like free rent for a month or no deposit to move in, often a precursor to rent cuts. The survey found 20 percent of landlords of large buildings in King and Snohomish counties are offering incentives to renters, up from 12 percent earlier this year."

"The hottest markets — typically the first to be impacted during a slowdown — are seeing the biggest rent decreases: Compared to a quarter ago, rents are down 3.5 percent in the University District, 3.1 percent in Queen Anne/Magnolia and 2.8 percent in downtown Seattle. And on the Eastside, the pricey West Bellevue area saw rents dip 3.8 percent, while rents are down 3.5 percent in Kirkland and 3 percent in Redmond."

"Still, the rosier outlook doesn’t mean rents are suddenly about to start plummeting. 'Certainly it’s not going to be anything like after 2008,' said Tom Cain, who leads the survey and has studied the local apartment market for decades. 'This is going to be rent growth leveling off and slowing a bit.'"

The Houston Chronicle in Texas. "Average rent prices for single-family homes in Katy's Cinco Ranch subdivision have fallen this year and in November reached their lowest mark in at least two years, according to the Multiple Listing Service provided by Aaron Layman Properties, a local real estate brokerage firm. 'We have a situation where we are overbuilt in the single-family sector,' said Aaron Layman, who heads the firm. 'That's going to put pressure on landlords. There's more (housing) options available than before.'"

"Average home rent prices in Cinco Ranch are down 20 percent since the oil crisis started in 2014, Layman said. MLS data provided by his firm shows the subdivision's average rent just below $2,000 per month, with the average having been about $2,650 in January and roughly $2,500 at the start of 2014."