Bubble trouble - Number of unsold homes at a new record high.

Here's part of a Feb 28th AP newspaper item:

(WASHINGTON) - Sales of new homes slipped last month, and the unsold
backlog set a record despite the warmest January in more than 100 years.

The U S Commerce Depatment reported Monday that sales of new
single-family homes dropped by 5% in January, leaving the number of
unsold homes at a record high of 528-thousand. (MORE)
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The Associated Press article goes on to suggest a real softening in the
housing market. Is the market getting a bit frothy or what? Is anyone
still in denial? Most importantly: Is there a "silver lining" of
opportunity for investors, as the market weakens?

Home sales are unusually slow, and buyers/sellers and ther agents are
jittery. Will it get worse or better in the Spring for sellers? For
buyers?

Norskey