The S&P 500 was flat in midday trading at 2,094.89.
The Dow Jones Industrial Average was down 0.4% to 17,967.31.
The NASDAQ was down 0.1% to 4,859.88.
The yield on a 10-year Treasury bond was down 0.2% to 1.86%.
The price of gold was up 1.3% to $1,266.
Orange County homebuilders declined on low GDP growth in the first three months of the year, with Commerce Department data showing homeownership rates fell in the first quarter and has been flat for a year.
Irvine-based CalAtlantic Group Inc. was down 5.1% to $33.03 and a $3.9 billion market cap. Irvine-based Tri Pointe Group Inc. was down 5.1% to $12 and a $2 billion market cap. Newport Beach-based William Lyon Homes fell 8.7% to $14.84 and a $489 million market cap. Aliso Viejo-based New Home Co. Inc. was down 1% to $12.10 and a $249 million market cap.