A report from Bizwest on Colorado. "To quote a recent Fortune.com article, it’s been a 'remarkable' run for the American economy. At 110 months of growth since the end of the last recession, we’re experiencing the second-longest economic expansion on record. And in Northern Colorado, like much of the country, we’ve watched home prices climb right along with it. Now there are signs that both the economy and home prices may soon moderate. We’re beginning to see a return to stabilization in the housing market. What’s that mean if you expect to be a seller or buyer in the coming months?"

"Above all, pricing takes center stage. Sellers who could optimistically set lofty list prices are beginning to temper their expectations, both locally and around the country. For instance, Zillow reported at least one price reduction on 14.2 percent of all its listings during June, up from 13.4 percent the year before. And Zillow’s chief economist thinks price cuts could be even more common.'

"In addition to more price reductions, we see fewer cases of sellers receiving multiple offers on their homes. Listings will spend more time on the market, and overall housing inventory — which has been scant in Northern Colorado — will begin to grow slowly."

"As we see prices ease overall, here are some noteworthy statistics that reflect what’s happening in the communities that make up Northern Colorado’s regional housing market: Housing inventory for the region totaled 1,704, similar to the 1,705 homes listed in June but still a healthy increase (13.7 percent) over the 1,499 homes on the market in May."

From Go Erie in Pennsylvania. "If you watch home prices in our area, you’ll find some of the price reductions are pretty dramatic. The reasons vary. Some homeowners don’t want to hang onto their homes and are willing to drop prices to move the house after a specific number of days. Others may have chosen a price point that’s a little too high or overcrowded with homes. And others want a closing before the weather gets cold."

From Forbes on California. "Looks like there was a summer slowdown in Beverly Hills and neighboring real estate, both in pricing and sales volume. Summer in Beverly Hills was certainly hot this year with temperatures above average. Not so for real estate, especially in the $3 million-plus range. According to Selma Hepp, chief economist at San Francisco-based Pacific Union International, July numbers in that Beverly Hills, Bel Air, Holmby Hills golden triangle show a decline in the number of homes sold by 26%, year to date. As sales slipped, it’s no surprise prices were down 11%. 'I think buyers are a bit more skittish compared with how well Beverly Hills and those areas did over the last few years,' Hepp said."

"Last year Beverly Hills did well with sales of higher priced homes above $5 million. Many of those properties went above asking price with multiple offers. 'Now that pool of buyers has been reduced somewhat,' Hepp observes. 'Although, I do see more price reductions in Beverly Hills in that price range and up than other areas in Los Angeles, I see it as buyers and sellers rebalancing expectations to more realistic levels,' Hepp adds."

"In today's beyond fast-paced market, when we see fewer sales, it’s the reality of a level of sanity returning, a good thing for buyers and sellers. 'When you look at sales above $3 million and you see a slowing compared to last year, that change does eventually reflect on the median price,' Hepp explained."

"Another interesting stat from Hepp is inventory of homes priced above $3 million increased by 93, with most of that additional inventory in the West San Fernando Valley, Beverly Hills and West Los Angeles. It’s also clear some sellers and their real estate agents are adjusting pricing strategies to reflect the current market. There were more price reductions compared with last July in areas with a larger share of homes priced between $2 million and $3 million. Look to Malibu, Hollywood Hills and Brentwood for those cuts."

"Stephanie Anton, president of the Chicago-based Luxury Portfolio International, a network of independent luxury real estate brokerage firms has a global view on luxury markets. 'Look at the data in many luxury markets and the price increases have been a little crazy. I think what we are seeing here is a summer slowdown and a slight correction.'"