Are you guys idiots or do you believe the media? The numbers are actually GOOD. Think about it, if builders are building more and more, then our housing sector will prolong the recession. THIS IS GOOD that the numbers are down a little, it means that we will chew threw the inventory already available making the housing market more stable.
EX:3,000,000 homes on the market with 50% vacancy homes valued at $150,000 each=over supply low demand.
1.5 million homes on the market with 25% vacancy, homes valued at $225,000 each= better for US.
Learn to read between the lines. Also what went down was multi family homes, URE will go up to finish the day and up tomorrow and for the rest of the week for the majority.