Our in-house lender, Justin Whitney with Countrywide, spoke at our Team Meeting yesterday about some important info.  He explained that the number of housing starts in Sept was at 1.19 million, which is down from 1.28 million that was expected.  Also, the number of building permits issued decreased 7.3%.  These numbers are the worst we've seen in 14 years.

Before you start thinking this is bad news (although I'm sure the media will spin it as such), this is actually very positive.  This means that the market is beginning to adjust and hopefully the levels of inventory will get back to a manageable level. 

Justin also stated that this news benefited the interest rates by .125% to .25%. 

Very interesting info...we'll keep you updated if more info is released!