A report from the Press Democrat in California. "Laura and Anthony Salvato wanted to buy a home in Santa Rosa before their 4-year-old daughter started kindergarten. However, the couple didn’t know what they could afford during a time of rising interest rates and home prices. The jump in prices was linked to a housing shortage exacerbated by last fall’s devastating North Bay wildfires. However, less than two months after finding a real estate agent and a lender, the couple completed the purchase of a house in Rincon Valley. The Salvatos, who are in their early 30s, moved in with their two young daughters in late June."

"The three-bedroom, two-bath home comes with a $3,900 monthly payment, including almost $400 for mortgage insurance, a requirement with FHA loans. The payment is substantial, Laura Salvato acknowledged, but rents for similar houses also have grown costly in Sonoma County. Buying the home allowed the couple to fix their housing costs and provide a way for 4-year-old Grace and 22-month-old Emma to eventually 'grow up in one school.' 'I just wanted to get in while we could afford it,' their mother said."

"But real estate agents and lenders maintain that in the past few months the market has shifted, with more homes available for sale and more sellers forced to cut prices to attract buyers. Frank Nothaft, chief economist for CoreLogic, estimated that prices for entry-level houses in California have risen about 10 percent over the past year. When factoring in the increase in mortgage rates, he said, the monthly loan payment for buying the same home in theory would have jumped about 20 percent in 12 months. And mortgage rates are expected to slowly keep rising."

"Others also spoke of changed conditions. 'I’m telling people now that there is absolutely a softening in the market,' said Scott Sheldon, branch manager with New American Funding, in Santa Rosa. For those with the means, 'it’s getting easier to buy a house today.' Sheldon was the Salvatos’ lender, and he points to the couple’s home-buying experience as evidence of his belief. The Salvatos looked at only about five homes, and the first offer for their Estes Drive house was quickly accepted by the owner, Laura Salvato said."

"The couple’s early success stands in stark contrast to the hordes of first-time buyers who over the past eight years regularly found themselves outbid by wealthier buyers. Sometimes the winning buyers offered more money. But they also won bids simply by paying cash or making larger down payments with proceeds from the sales of other properties."

"Sheldon acknowledged the Salvatos’ experience was unusual for first-time buyers. Part of the reason could be when they began house hunting. 'They hit it at the most opportune time,' he said. 'They bought right as the softening commenced.'"

From the Idaho Press. "Boise’s hot real estate market is an inescapable topic these days. No matter if you are looking to purchase your first home, searching for an affordable apartment or just looking at your property tax bill, skyrocketing real estate prices have likely made an impact on your bottom line. At a Citizens Planning Academy discussion hosted by the nonprofit Idaho Smart Growth, more than a dozen attendees bandied about topics related to rising rent and home prices."

"Capital City Development Corporation Real Estate Development Manager Shellan Rodriguez said Boise’s real estate market is currently squeezed by an influx of people and not enough housing for everyone, which has created rising prices across the spectrum."

"Erik Kingston, housing resources coordinator for the Idaho Housing and Finance Association, said the nationwide market is being affected by a huge influx of investment from overseas, largely from China. That means investors are buying up real estate in historic quantities and renovating it to be at higher price points, owning it just for storage purposes and money laundering or using it as short-term rental units instead of for residents to live in."

"He echoed Rodriguez and called for the construction of more housing units, especially for the middle class, to increase market supply and bring prices down for everyone."