Bad!!! and getting badder, lol. In almost 40 yrs I have never seen this kind of housing market! Builders who were going wild and could not keep up with demand just a year or so ago, are going into foreclosure! The builders still trying to make it are dropping their drawers on prices of standing inventory! If you career is building/selling homes, what do you do when homes will not sell, at least at a profit! Want a new car with your new home, you sure can get one now! Even on homes around 170-200k! Higher price homes gets you a Mercerdes or BMW! This is simple unbelievable! Resale homes are sitting and looking for any offer at all! Sad part is, most of the sellers owe more than their home will bring! Short sales everywhere! Looks like the forclosure rate will continue to climb for some time. Buyers are faced with the largest choice ever, yet are afraid to commit, can't get financing or waiting for prices to come down even more. Wow, what a terrible market. I do not know a way even the goverment can save the situation. This is like the "perfect storm" for real estate. Over inventory and tight credit. If you are a smart buyer with financing you can write your own ticket. Call me and I'll get you the bet bargain ever!!!