Check out the following links to some informative articles on current trends and activity in the real estate and building industry.
This one describes builders being back in the market purchasing raw land.
http://www.builderonline.com/land-acquisition/as-lot-prices-dip-more-builders-buy-land-again.aspx?cid=BLDR090908002
This one descibes how the time is now to buy
http://articles.moneycentral.msn.com/Investing/RealEstate/its-time-to-invest-in-real-estate.aspx