Inman News reports on Washington. "Home sales in western Washington fell for the seventh straight month in September, as rising inventory slowed price appreciation, according to the latest report from the Northwest MLS. Brokers reported 7,906 sales last month, down 15.7 percent from a year earlier when 9,380 sales were recorded, according to MLS statistics."

"Brokers added 12,656 new listings to inventory during September. Last month's additions included 10,697 single family homes and 1,959 condominiums to boost the total inventory to 34,443 listings, a 41 percent increase in supply from a year ago."

"The growing inventory is giving buyers a 'much better chance to selectively and judiciously make buying decisions without the frenzied attitude of the last four years,' according to broker Dick Beeson in Tacoma. 'Sellers are getting frustrated by longer marketing times with some now offering more buyer incentives than they would have previously offered,' he noted."

"'Things have changed, and it's now edging toward a buyer's market,' Beeson said. 'Sellers can't remain frozen in time, place or price when it comes to selling their homes."'

The Bellingham Herald. "A glut of supply in the past few months is cooling off what had been a hot real estate market. 'It is a great time to buy and a challenging time to sell,' said Lylene Johnson in Fairhaven. Johnson prepares a quarterly report after analyzing data from the Northwest MLS. 'It was inevitable that price appreciation would slow down because of all the new homes now on the market.'"

"'I wouldn't be surprised if home prices continue to soften over the next few months,' Johnson said. 'But I think that means we're just returning to a more normal market. We've had a couple of years of an unusually hot market, so when we go back to a more typical year, it feels worse than it is.'"

"At the end of September, the number of homes for sale in five of Whatcom County's major markets (Bellingham, Lynden, Ferndale, Blaine/Birch Bay and Sudden Valley) was 1,450, more than double what was available two years ago."

"'I can't remember a time when there were so many homes on the market,' said Johnson. 'It has resulted in some potentially great deals out there, especially the new homes that developers need to sell now.'"

"Realtor Gragg Miller estimates that the housing inventory (the number of homes left if no more homes came on the market) has enough supply for almost six months. That number of homes for sale is creating more of a buyer's market."

"'Even with the oversupply, you still see strength in the number of buyers out there,' said Miller. 'It's a different market now than a year ago.'"

"Also, the number of homes sold is down significantly this year, according to statistics compiled by First American Title. In the first eight months of 2006, 3,062 homes and condominiums sold in Bellingham, Ferndale, Lynden Blaine, Deming and Sumas. For the same period last year, 3,634 homes and condominiums were sold."