A Idaho Statesman report from the Idaho Stateman. "Price slashing and builder concessions to buyers are becoming commonplace in the Treasure Valley. The triggers have been a triple-digit jump in inventory numbers and runaway home-price appreciation rates during the last 18 months."

"In the last six weeks, Kent Proesch has slashed more than $70,000 from his initial asking price of $324,000 in hopes of creating interest in a 2,428-square-foot, four-bedroom home he owns on the Boise Bench. 'If I had a good agent, he probably would have told me to price it at $279,000,' joked Proesch, who has been a Treasure Valley real estate agent since 1976."

"'It's not doomsday,' said Proesch, who declined to say what he paid for the house he bought in February from his aunt's estate. The home was assessed for $162,200 earlier this year."

"Elsewhere, agent Marilyn Van Dorne said the owners of a 2,969-square-foot, four-bedroom, 31/2-bath home in a gated community in the affluent Highland Ridge area of North Boise have shaved $44,000 off their original asking price of $739,000. The house remains on the market."

"Intermountain MLS statistics show that Treasure Valley home sales were down 25 percent this August from the same month a year ago. 'That's incredibly steep in my experience,' said Ken Simonson, chief economist for the Associated General Contractors of America."

"'It's obvious that the national slowdown has been worse than some of us wise-guy economists expected,' he said."

"52 building permits were issued in Meridian, the fewest since January 2002 and 79 percent fewer than the 251 permits authorized in January, when the city was the hottest real estate market in Idaho. 56 permits were issued in Boise, 42 percent less than the same month a year ago. The inventory of available homes in the Valley stood at 4,863 on Sept. 17, a 173 percent increase since the start of the year."

"'Sales are simply coming back to normal,' said Don Holley, professor of economics at Boise State University. 'The underlying economy in the Valley remains strong, and there is nothing to suggest that it's going to collapse.' But Holley said that as the housing market slows, construction industry employment will, too. Potentially hundreds of additional jobs created at the height of the building boom are likely to disappear, he said."

"As home sales have slowed, Treasure Valley homebuilders are offering concessions unheard of in 2005. Hubble Homes in Meridian, is willing to listen to offers on homes it's carrying in inventory, something that wouldn't have happened a year ago. 'Last year we wouldn't have accepted anything less than full price,' said owner Don Hubble."

"Most agents also are warning clients that if their homes haven't sold by predetermined times, it will be time to think about cutting prices, she said. 'People are used to houses flying off the market,' Van Dorne said. 'That's not the reality now. Now there's a lot of inventory out there.'"

"Some industry experts say some benefits may be emerging. Michelle Plaschka, a (banker) for emerging markets in Nampa, said fewer sales will put the brakes on runaway home-appreciation rates."

"Landowners who were able to demand $150,000 an acre for vacant land at the height of the boom will have to bring down their asking prices, Hubble said. 'I've already seen lots prices come down $20,000, and to my knowledge they still haven't sold,' Hubble said. 'So I think some good is going to come out of this slowdown.'"