May

07

Update 10:00am ET

By Chuck

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Pending Home Sales for March:  -1.0% V -1.0%E (prior revised from -1.9% to -2.8%)

US PENDING HOMES TABLE

Mar      Feb    (Prev)    Mar07
Pending index     83.0     83.8     84.6      103.9
Mar      Feb    (Prev)    Mar08/07
Pct change        -1.0     -2.8     -1.9      -20.1

Pending home sales indices by region, adjusted:

Mar      Feb   (Prev)    Mar07
Northeast     80.8     71.8     71.8      95.5
Midwest       74.1     82.7     82.7      95.4
South         84.9     85.0     85.0     115.8
West          91.2     92.5     95.8     100.7

Reuters survey of U.S. economists forecast:
U.S. March pending home sales index -1.0 pct

NAR forecasts:
(Percent changes on year-on-year)

Existing home sales forecast
May     Apr
2008 units (mlns) 5.39    5.39
pct change       -4.7    -4.7
2009 units (mlns) 5.72    5.74
pct change        6.1     6.6

New home sales forecast
May      Apr
2008 unit     536,000  576,000
pct change     -30.9    -25.7
2009 units    590,000  602,000
pct change      10.1      4.6

Housing starts forecast
May     Apr
2008 units (mlns) 0.96    1.00
pct change      -29.5   -26.3
2009 units (mlns) 0.97    0.99
pct change        1.3    -0.5

Median existing home sales prices
May         Apr
2008 price   $213,700    $215,800
pct change      -2.4        -1.4
2009 price   $222,600    $223,800
pct change       4.1         3.7

Median new home sales prices
May         Apr
2008 price   $238,000    $238,400
pct change      -3.7        -3.6
2009 price   $250,900    $247,800
pct change       5.4         4.0

MOODY’S: EXPECTS US SPECULATIVE GRADE DEFAULT RATE TO RISE TO 4% AT YEAR END FROM  1% IN 2007

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