The Mail Tribune reports from Oregon. "For the first time since 1984, the median price of a home sold in Jackson County went down, spurred by declines on both sides of Medford. High inventories, fewer first-time buyers and a wait-and-see attitude on the part of newcomers to the market pulled the plug on the heretofore relentless price increases, representatives in the housing industry say."

"'People are waiting around because there are so many houses to choose from,' says (realtor) Sandie Malot in Central Point. 'It's like a candy store.'"

"East Medford was the epicenter of the drop, with the median price on 58 sales plunging 10 percent, from $295,950 to $267,000, in August 2005. 'Overall, there is no catalyst for buying right now. The buyers don't want to buy into a falling market,' said John Russell of Rogue Valley Realty Group."

"The countywide inventory of houses available through the Southern Oregon MLS is up 120 percent to 1,971 single-family residences over a year ago. In west Medford the number has climbed 176 percent."

"Realtor Kathy Tinsley in Medford says the reluctance of sellers to follow market conditions has contributed to the glut of housing stock. 'Some people didn't come down right away in their prices,' Tinsley says. 'I have a listing with two houses on one lot that was at $399,000 that would've been gone last year and it has dropped to $379,000 now.'"

The Statesman Journal. "A section of South Salem has seen new home prices spike to an unprecedented level for the Cherry City. James Dalfin plunked down $495,000 for a home at Bailey Ridge. He wasn't overly concerned about the price, having used the proceeds from the sale of his father-in-law's house in Southern California. 'We sold it as a fixer-upper for $500,000,' Dalfin said."

"Agent Eric Larson, who is marketing houses at Bailey Ridge, said buyers have been a mix of local people and those relocating from out of state. Those flush with cash after selling their old homes don't seem to mind the prices, he said."

The Seattle PI. "Real estate experts expect to see slowing sales and price gains and increased inventory, but nothing resembling a bursting bubble, when the Northwest MLS releases its August numbers today. Jill Jacobi Wood said she is looking forward to having local numbers to balance the grim news from areas such as California. 'It's kind of dismal in some of these places,' she said."

The NWREeporter. "July marked a definite change in pace from previous months, according to Northwest MLS director Dick Beeson. Beeson said the most telling statistic for Pierce County is the surge in inventory, which is up almost 53 percent from a year ago."

"'It's like a buyer woke up from a five year nightmare of no presents under the Christmas tree and discovered a tree brimming with choice gifts,' said Beeson in Tacoma. With an abundant selection, buyers are now picking and choosing, he remarked."