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Cover. I am matt miller. And i am alix steel. Existing home sales, why can you . Ell us to g they are down five point one percent. The expectation was 4. 1 , so it did take a big toll. It is very obvious what happened during the month when you look the regional background breakdown. 7 almost in the midwest, down 5 in the south, 8. 3 in the west, everywhere affected, 80 of the country was affected in january by the bad weather. Singlefamily down 5. 8 . Condos and coops were flat, may be eager to get around in the with condos cities and coops. Overall, a bad month. Everybody will look through it and we will wait and see what happens when the weather starts to move up. We will keep you with us, mike. We will bring with us drew matus, deputy economist at ubs, given stamford, connecticut this morning. Drew, this is the lowest annual 2008. Ince obviously the weather is rough. I dont think it should be a concern. What would give me concerned and aart thinking is that we saw pickup in layoffs. ....
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