by Calculated Risk on 4/10/2007 10:14:00 AM

From MarketWatch: No spring in home sales, D.R. Horton says

D.R. Horton Inc. said Tuesday its cancellation rate remains elevated and that it hasn't seen a rebound in market activity that's typically associated with the spring home-selling season
....
Donald Horton, chief executive at the nation's largest builder of residential homes, ... said the spring sales period "has not gotten off to its usual strong start." ... "Market conditions for new home sales continue to be challenging in most of our markets as inventory levels of both new and existing homes remain high," the CEO said.