Even the latest housebuilding deal involving Redrow and Tay (page 22) failed to stir many analysts out of their pre-Christmas languor.
"Tay was always going to go, it was just a matter of time," one analyst yawned. But it is not just all the big boozy lunches that have brought on the quiet times.
It seems that a series of trading updates scheduled for the last week before the holidays is causing analysts and investors to pause. Persimmon, Aggregate Industries, Hanson and RMC are all due to give updates.
Berkeley will release its figures for the six months to 31 October. As this is one of the country's leading housebuilders, its results will be closely watched.
"Everyone is a bit scared by all the talk of a downturn and are waiting to see what Berkeley will say about the market and the prospects for next year. So until they come out, you won't see a lot of activity," an analyst said.
This caution is not affecting house prices, according to Nationwide.
It says that they rose 0.07% last month and 12.8% for the year to November.
