I think that is probably the best way to go sdcellar. I know that kind of sucks. I guess it depends on what you are looking for. Some people have extraordinary needs in terms of the house they want and thus it is hard for them to find stock readily. For the other vast majority of us that do not have extraordinary needs it most likely would be better to wait.
If you are going to be buying straight from the builder then try to negotiate with them to get some upgrades etc… The builders are coping with the downtrend much better then the resellers because they have significantly reduced the number of homes per phase and have slowed the development pace considerably. Also, as mentioned by one of the other posters, you can find a realtor who will rebate you part of the commission that the developers pay to realtors for bringing buyers in.