The Mail Tribune has this update on southern Oregon. "As more and more 'For Sale' signs sprout up along with May flowers, Jackson County homebuyers are displaying temerity unseen in recent years. For every four houses on the market this time last year, there are 11 for sale today. In west Medford, nearly four times as many homes are for sale than the same time last year, while Central Point and east Medford have three times as many on the market."

"The growing number of houses on the market comes even as several high-end residential developments take shape. 'Buyers are asking for more as they feel the power of the pendulum swing to their side,' says (agent) Ron Galbreath. 'They're asking for more for repairs, carpet and appliance allowances, and help on closing costs and down payments.'"

"The tug of war has led to reduced prices and lengthy market times. April had 168 completed transactions, down from 321 in April 2005. 'We've gone from where realtors were order takers, could take a house and wonder three days later why it hadn't sold, to 80 days on the market with price reductions,' Galbreath says."

"That trend will likely continue. Citing Southern Oregon MLS figures, (broker) Bill Allen points to White City, where there were 12 residences listed in mid-April 2005 and 115, including new construction, last month. 'That right there should tell you it's a buyer's market,' Allen says. 'I think the median is higher because there are fewer buyers in the lower range right now.'"

"The sheer volume of listings has taken house-hunting from a 100-meter dash into a marathon. One recently completed deal for a Bailey Avenue residence illustrates his point. Two months passed from the first time the eventual buyer made her first offer on the 1,580-square-foot house. 'In between her first and second offer, her agent told me she looked at 37 houses,' Galbreath says. 'She had seen so many houses that she didn't remember the first time she had seen it.'"

"On Monday, the SOMLS site showed 25 new listings in the previous 24 hours, reduced prices on 25 others, eight sales and 12 pending sales. Two price increases were logged as well."

"'If a house is priced wrong or something is wrong with it,' Allen says. 'Usually, the only thing you can do in real estate is adjust the price. If a house is still on the market after 30 days, then you're going to be making price adjustments. Then somewhere around 60 days you'll make another price adjustment. That's the historical norm.'"