Housing Prices Slowing

New York Times is running a story on slowing housing prices
Slowing Is Seen in Housing Prices in Hot Markets

In Manhattan, the average sales price fell almost 13 percent.... The amount of time it took to sell a home was also up 30.4 percent over the same period.

For-sale listings have also swelled throughout California, according to the California Association of Realtors. In the San Francisco Bay area, they have increased 16 percent in the last year, Coldwell Banker Residential Brokerage said.

New York Post has a similar one
Real Estate in Bubble Trouble

In the Prudential Douglas Elliman report, which covers sales of all firms in New York City, the average price of a Manhattan apartment — including co-ops and condos — dropped 12.7 percent from $1.32 million in the second quarter to $1.15 million.

In the luxury apartment market — defined as the top 10 percent of transaction prices — the number plunged 26 percent from $5.2 million to $3.8 million in the three-month period.