Oregon Public Broadcasting

Portland's real estate market slowed in July. New figures from the Multiple Listings Service show that while prices held relatively steady, fewer people were buying.

Sales activity in Portland declined 29 percent between June and July. That's a big drop.

At the current rate of sales, there would be enough homes on the market to last almost 11 months. That's at a time when activity is usually greater -- with people moving in preparation of the start of the school year.

But real estate agent Jean Ice isn't worried. She says overall, the market seems to have stabilized.

Jean Ice: "I wish I had a better crystal ball but since March 2009, it's been pretty much holding it's own. It's been going up and down, but not appreciably down."

In fact, the average sales price of a home increased a bit over the last month. But the median price dropped slightly.

Similar trends are seen in Lane County, Southwest Washington and several other Oregon real estate markets.