I can’t tell you what happened in the last cycle (I wasn’t here) but from my meetings with the builders, they are still building houses, and they are building whatever they have that is along far enough. The reaction I have seen to this slowing market is that they will stretch out their phase releases – releasing only 3-5 homes per phase as opposed to 5-10 homes per phase.
Most of the talk I hear is that they hope things get better in the summer (sales-wise).
