Across the nation, new home construction is the lowest it has been in 12 years.  New home construction fell 2.6 percent last month, according to the Associated Press.  It is also 19.1% lower that just one year ago.  Many people think that new home construction will rebound in the middle of 2008.  The lowering of interest rates will help this, along with increasing buyer confidence.  Many of the people building new homes have existing homes to sell.  As soon as existing homes sales pick up, new construction should follow.