A television station has this update on southern Oregons' housing market. "Two to three years of explosive growth in the Southern Oregon real estate market seems to be cooling off. Sales of new homes are down 22 percent compared to this time last year. Overall, home sales in our area are down 38 percent."

"You don't have to travel far in the Rogue Valley to see new homes being built and lots of homes for sale. The number of homes for sale in Jackson County is up 97 percent compared to this time last year but home sales are down by nearly 40 percent."

"But experts, like appraiser Roy Wright, say not to worry. 'We're going back to where we were 5 years ago where it's still a good real estate market. Homes are still selling, they're just not selling at the rate they've been selling for the last two to three years.'"

"Now this still isn't an easy market for first time homebuyers to get into. That's because according to Roy Wright, the average wage earned in this area is simply too low compared to the housing prices."

"As for purchasing a new home, Roy Wright says now is a good time. 'This is definitely the time to buy because you can cut a deal. Anybody who wants to sell knows they're going to have to compromise.'"

"Mark Wickman, a local homebuilder, says the cooling off trend has not affected his business. 'We're not changing our construction schedule for this year. We're gonna keep on going at the pace we go.'"