A report from WWSB My Suncoast in Florida. "Are you having trouble selling your home in Sarasota or Bradenton? One Sarasota realtor said she gets hundreds of calls every week from people who can't sell their homes. Alan Schwambach has lived at the Greyhawk Landing development in Bradenton for 15 years. He said when he listed his home, he didn't expect to have any problems selling it for more than he bought it for. But here it is now, two months and three price drops later, with still no bites. 'This whole thing right now is just, it's just discouraging,' Schwambach explained."

"It was easy to hear the frustration in his voice. He sees the worth in every one of the $749,000 his home is listed for. 'We paid like $568,000 and then we had $105,000 on the lot, so we're over almost $700,000,' Schwambach explained. 'Well with $700,000 and we can't even get $600,000? There's something wrong with that picture.'"

"But it's not just him. There are 20 other homes listed for sale in his community. 'Most of them are $500,000 and $400,000 and they're not selling,' said Dawn Cohen. 'And the last four sales in the last 30 days were all under $400,000.' Dawn Cohen is the realtor with Premier Plus Realty who has agreed to sell the Schwambach's home, but she said she isn't surprised that there hasn't been any interest."

"This is a story she hears hundreds of times a week. 'All I can say is the supply and demand is causing the pricing to go up and the new construction is more popular,' Cohen explained. 'So the more people that want to buy and the more people that choose new construction, choose not to buy resales.'"

"Cohen said the majority of her calls come from baby boomers who also preferred to buy new without planning ahead. Five years later, their spouse passes away or needs to move to a nursing home and they can no longer afford the brand new home. 'They can't even sell it for what they paid for it,' Cohen explained. Cohen also added that this is the peak of the housing market, so anyone who would like to sell their homes should list it at market value."

The Spokesman Review in Washington. "Buying a home in Spokane County just got a little more affordable. Average prices dropped about $10,000 between June and July – a cool-down that local Realtors attributed to discouraged buyers choosing to wait out the competitive market. 'When you have buyers loosing out on three to four homes, and having to fight in multiple situations, they’re getting exhausted and tapping out,' said Ken Sax, president of the Spokane Association of Realtors."

"Sax also attributed the drop in prices to overconfident sellers adjusting their expectations. Some sellers are finding they have to reduce their asking price to generate interest in the property, he said. However, 'it’s a hiccup, not a bubble bursting,' Sax said of July’s lower prices. 'Sellers are being more reasonable and sensible, and buyers will come back into the market when they’ve healed from their wounds.'"

"When the market is so competitive, buyers are forced into overpaying for houses. Some prospective buyers drop out of the market, Sax said, and others end up with higher mortgage payments."

The Pueblo Chieftain in Colorado. "The red-hot housing market in Pueblo and other Colorado communities shows more signs of leveling or, possibly, starting to cool. 'An early peak housing season (in April and May) has been met with an earlier than normal seasonal slowdown as buyer and seller behavior is changing amid the latest market conditions,' the Colorado Association of Realtors said."

"In Colorado Springs, sales remained hot but 'the boots-on-the-ground sentiment from Realtors working in the Pikes Peak market indicate the winds of change, an overall feeling that the buying and selling season is slowing prematurely and pointing to a potential shift in the overall housing demand,' real estate agent Patrick Muldoon said."

"In the Pueblo and Pueblo West area, the market remained robust in July but sales showed 'a slight down trend,' said David Anderson, the Pueblo area's spokesman for the state association and an agent with RE/MAX Pueblo West."

The Sacramento Bee in California. "Good news for Sacramento County home shoppers. The median sales price last month dropped by $5,000. In a sign the area’s housing market is softening, the county’s median price dropped to $370,000, one of the few monthly drops during a seven-year run of rising home prices. The number of homes for sale has increased, while the number of sales has dropped in recent months."

"'I really think that is a red flag,' said Sacramento real estate analyst Ryan Lundquist. It’s not panic-button time for sellers or economy watchers, though, Lundquist said. It will take a few more months to know if the area’s real estate market is headed for a serious slump. 'We are in this place where it is almost like a dating relationship. You need more time to see how it is going to go.'"

"Real estate watchers say the summer slowdown is an indication that high home prices and rising mortgage interest rates have forced some would-be buyers to back away, which in turn is forcing home sellers to accept lower prices."

From KRON 4 in California. "The number of people in California that can afford to buy a home continues to fall. According to California's Association of Realtors, high home prices and rising interest rates are to blame. But there are undiscovered areas where Century 21 Realtor Janella Anguiano says you can get a deal in the heart of Castro Valley. A three-bedroom, 1.5-bathroom home is listed at $769,000. Just three weeks ago, a house across the street with two bedrooms, smaller in square footage, just sold for $11,000 more."

"'I want to get people in the door,' Anguiano said. 'I don't want to be priced at that price where people think, 'Oh, we have to overbid that.' That's what causing the overbid and overbid or pricing it too high to start with and then having to reduce it.'"

"'I try to cue my sellers to price their homes lower than the neighborhood sales because when you price your home at the last sale, that's what that buyer was willing to pay for that home and that's why we're starting to see price reductions here and there because we are starting it at where the last home sold for,' Anguiano said."