So far, the cracks in the housing market are not that great, but with inventories skyrocketing, that may not last long.

The pull back in housing remains orderly, at least in the existing market. But the red flags are up. Inventories continue to rise and that is a warning that prices cuts could be coming, and soon.

Housing activity has peaked. Inventories continue to rise. I see the housing market continuing to soften.

There's not a big market out here for housing. You don't find what you need, but you find what you can handle and be comfortable in.

A rebound to solid levels would indicate today's report was not the start of a trend, ... Another month near these levels would create some concern about the strength of the housing sector.

It was in a market that was growing but has declined, at least as far as housing starts. What it all comes down to is housing starts. Our benchmark is 3,000 starts annually in a market. There were not very many in these areas and 95 percent of our customers are builders. It is not a people issue, it is a market issue.