In my subdivision I was outside all day yesterday and last weekend and I only saw a few cars driving through. The agent in the subdivision told me that while they have a couple good prospects, things have dried up completely since the 11th. They are suspending their quarterly price hike. Once the must have buyers runout sales will stop. One of the new houses fell through just before closing. Those already in contracts to buy will close over the coming months, but looking ahead - the buyers are evaporating.
They also have another subdivision north of town and although they have been taking orders since march and have perhaps 30 homes ready for immediate sale they have only sold one house so far in the whole subdivision.
I would not want to be long in homebuilding stocks. Who wants to be the last to leave a party?