1.   A glut of unsold homes has also given builders reason to approach new projects conservatively.

2.   A glut of unsold homes would throw construction workers out of jobs.

3.   A glut of unsold homes stopped builders from starting new projects.

4.   Additionally, a glut of unsold homes has given builders reason to approach new projects conservatively.

5.   Builders finally pulled back, apparently because of a growing inventory of unsold new homes, among other problems.

6.   But he warned builders to avoid an inventory of unsold single-family homes.

7.   He also pointed to rising inventories of unsold homes that have been largely masked by strong sales.

8.   Inventories of unsold new homes have risen rapidly since late last year, when less than six months were needed to sell off the stockpile.

9.   Last week, the Commerce Department said the number of unsold homes rose to the highest level in five years during May.

10.   Meantime, inventories of unsold new homes are becoming leaner because builders have been more conservative in erecting houses on speculation, that is without committed buyers.