The Olympian in Washington reports on the now familiar signs of a housing bubble bursting. "The South Sound real estate market is beginning to evolve from a seller’s market to more of a buyer’s market as inventory levels rise and home prices decline, according to Olympic MLS data released Wednesday."

"Active home listings in March stood at 1,047, well above the 568 active listings for last March, the data showed."

"As a result, the median price of a home dropped slightly from $248,475 in January to $244,575 in March. 'We are seeing some stabilization in pricing based on the inventory in the marketplace,' said Olympic MLS Manager Jerry Wilkins."

"With more homes coming on the market, buyers don’t have to react as quickly to the home of their choice, resulting in fewer multiple offers for the same property, said (broker) Jeff Crandell of Lacey."

"'There has been a leveling of our market that we’ve all been anticipating for some time now, but it’s taken longer than I would have thought,' Crandell said."