Home builders across the country have taken a big hit, according to some brand new statistics. D.R. Horton -- one of the nation's largest home builders -- has reported order cancellations approaching 40 percent and price cuts that are significant on buying new homes. It is completely a buyer's market in the new home market. By comparison, the used-home market is much healthier. Yet sellers have a very pessimistic mindset, thinking they won't be able to sell their home anytime soon. That belief is not entirely unfounded; a house will now sit on the market for an average of nine months before it's sold. So if you want to sell soon, you'll probably have to take less money for your property than you thought. That's the reality of the market. Recovery is on the way, but it's not forecasted to arrive until 2009 or 2010. At that point, we should see what's called equilibrium, where you have roughly equal numbers of willing buyers and anxious sellers. Right now we have more anxious sellers than willing buyers. It's going to take time to unwind the speculative fever that drove prices up unnaturally in a lot of bubble markets, such as California, Arizona, Nevada, Florida and Boston. So if you are a buyer, it's a pretty good time for you even though interest rates have gone up.