Post your housing market observations here! Some readers sent in this on Las Vegas. "A decline in new home orders by some of the nation's large builders reflects a softening in the housing market that is being felt in Las Vegas, a local housing research expert said."

"'It's softer than it was, the way it should be,' said Dennis Smith, president of Home Builders Research, 'because we all knew it was going to slow down sooner or later. We got away from talking about cycles and started talking about bubbles. The cycle is on the downward slope of the peak."