According to the National Association of Realtors, sales of existing homes rose 3.9% over January's numbers, well above Wall Street's expectations. A good sign. Inventory was also up modestly while prices fell less than 1%. What seems to be happening is that relatively small price reductions can have large demand impacts, at least on a nationwide basis. It also looks to us like the market is settling down a little bit. The spring selling season on the mainland is going to be very important to this viewpoint however.