'Taking a Breath' or Out of Breath?

Some of you may have read this article today:

http://finance.yahoo.com/blogs/daily-ticker/housing-market-improving-despite-decline-housing-starts-confidence-134748661.html

Here's the pull-quote:

David Crowe, chief economist of the National Association of Home Builders, tells The Daily Ticker that this slight decline is nothing to worry about. “Given the strength [home builder confidence] showed during all of 2012 I think this is it just simply taking a breath," he says.

What do you think? Is the housing market just 'taking a breath' or is it out of breath?

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