The National Association of Home Builders reported last month that housing starts were down all across the nation -- in every region. But the South saw a hefty decline of 12.6 percent.

NAHB President Sandy Dunn, reported that: “Builders are dramatically limiting starts of new homes in an environment of weak sales and heavy supply, ratcheting down production of single-family units to its slowest pace in 17 years."

So what are the local experts seeing in the region? Is the market down as a whole in the South?

Real estate expert Michael Sahlman says in Key Biscayne, Florida, -- buyers are seeing the market heavily weighted in their favor.

10 homes and condos sold in February, he says, with a sales price just 86 percent of the asking price -- though that asking price was a steep $1.4 million.

The market in Alexandria, Virginia, has been relatively unchanged in terms of pricing. This comes to us from Realtor Cheryl Shier. She says, "The good news is that a bill was just signed by the President that will increase the conventional loan amount in VA to $600,000. It is only a "Temporary Measure" to boost the housing market until the end of 2008."

She goes on to say that they can expect a surge of buyers in the late Spring time frame until the end of 2008. With interest rates still extremely low and with the increase in the conventional loan amount -- this should be a good year for buyers and sellers of real estate!"

That's all for the Souther region today. Be sure to check back often to see what is happening in your area.