RMLS, the Portland area multiple listing service, just released their numbers for September 2008.  While inventory continues to rise, the rate of inventory increase has slowed.  This appears to be related to the fact that not as many houses are coming on the market.  Prices are still sliding, but each neighborhood is different.  For information about a specific neighborhood or area, let me know and I will get you the info.

These are the statistics so that you can get an idea of what is going on without the editorial spin.