The homebuilder numbers are out. "Rising mortgage rates, continued affordability issues and subsiding demand from investors/speculators are prompting single-family home builders to adjust their perspectives on the new-home market, according to the National Association of Home Builders."

"All three component indexes slipped this month, with the largest decline registered for current single-family sales. That component declined five points to 54 in April, while the component for sales expectations in the next six months was down four points to 58 and the component gauging traffic of prospective buyers declined a single point to 39."

"The 50-mark is a key level for the index, as it indicates that the number of positive or good responses received from the builders is about the same as the number of negative or poor responses. Monday's reading was the lowest level for the index since November of 2001, when the measure reached a level of 48. Prior to 2001, the index last moved below the 50 mark in 1996, when it ticked to 49 in February."

"Some builders are taking a cautious approach to the changing real estate market by monitoring their growth strategies and taking wait-and-see approaches. Other builders, however, are gobbling up every piece of dirt they can get their hands on."

"The latter is true for Coral Springs-based Centerline Homes, which recently opened six communities in seven weeks, including four of the company's first Central Florida projects. 'Some builders are looking at the slowing housing market as an opportunity to build market share like Centerline Homes is doing,' Brad Hunter says. 'And others want to decrease their exposure and wait out this wave of uncertainty in the market right now.'"

The Phoenix Business Journal. "The region's housing market has gone from red-hot to lukewarm in just a few quarters, stirring worries about the Valley's all-important real estate sector. Industry insiders and boosters hope the current slowdown is a market correction, a short-term hiccup and not a more serious slump."

"Home builders are offering incentives and extras such as pools and tile floors at discounted costs to lure buyers. 'The current slowdown in the market is a short-term imbalance caused by excessive investor activity, rapid price runups in a short period of time and, in some cases, poor market analysis by builders that, collectively, have led to an oversupply of housing in certain price ranges, in certain areas,' said Rebecca Burnham, a real estate attorney."

"Investors, some local, some from California, who swooped in on Phoenix during the hot market, buying and flipping homes at higher prices. 'The new housing starts are still going well, but the waiting lists and overall new housing traffic have slowed down,' said Steve Prokopek, economic development director for the city of Peoria."