A pair of reports on housing from middle-America. The Columbia Missourian, "Columbia has too many new homes on the market, which some builders and Realtors say might force anxious builders to cut prices. Some of that anxiety is typified by (builder) Rhonda Carlson. She said the new construction market is overbuilt. 'In certain subdivisions, there’s just a lot of For Sale signs,' Carlson said."

"Carol Van Gorp, CEO of the Columbia Board of Realtors, said the MLS indicates that 437 of the 1,528 homes available in Columbia are new. Realtor Rob Wolverton said excess supply simply makes it harder to sell new homes. 'It increases the amount of competition that there is for buyers that are in the market,' Wolverton said. 'People producing the product are going to have to do a little bit better job.'"

"'The market will correct itself to some degree, but I don’t know that it will be without some pain,' Carlson said. 'Some builders won’t be around next year.'"

"Wolverton said selling a property for a reduced price cuts down on the costs of holding vacant property, including interest, insurance, utilities and lawn care. 'If you get prideful and hold on to your product until winter, you should prepare for a significant haircut,' he wrote."

"Wolverton said the current market is 'the most unusual market' he has seen since he began selling real estate in 1995. He said 'it’s unusual because of the amount of anxiety that is in the market.' He compared Columbia’s situation with the correction in the stock market in 2000."

"'My advice to builders is to view 2006 as the end of an incredible cycle in the Boone County real estate market,' he wrote."

The Quad Cities Online in Iowa. "There are 1,338 homes for sale in the Quad-Cities, and with growing inventory, it's a buyer's market. 'The problem is we have so much inventory. Our inventory is at a 17-year high,' (broker) Caroline Ruhl said."

"'Where the buyers are coming from; that is somewhat of a mystery since our market is relatively flat, not a lot of people coming or going,' (realtor) Bonnie Sparks said of new homes. 'Upgrades and divorces account for part of the movement. But keep in mind as well, that not all of the new construction has been sold.'"

"'Many new additions are going up and houses are being built without the structure being purchased by a buyer to date,' she said. 'There really is a risk of saturation and the risk of over-building.'"