1. Housing and Economic Outlook David F. Seiders Chief Economist October 25, 2006

2. NAHB/Wells Fargo Housing Market Index 2

3. Single-Family Building Permits (000s, SAAR) 3

4. NAR’s Composite Housing Affordability Index A value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home. 4

5. Existing Home Sales (Single-Family and Condo) (000s, SAAR, 3 Month Moving Average) 5

6. Single-Family Inventory (New and Existing) ( 000s, SAAR, 3 Month Moving Average) 6

7. Existing Condo/Co-op Inventory (000s, 3 Month Moving Average) 7

8. Sales Cancellation Rate (New Homes) (%, 3 Month Moving Avg., 30 Companies) 8

9. Existing Home Prices (Single-Family and Condo) (Median, Yr-Yr % Change, 3 Month Moving Average) 9

10. Fed Funds Rate Target Percent 10

11. Home Mortgage Rates Percent Fixed-Rate Mortgages Adjustable Rate Mortgages 11

12. (Overall Index -- Year-to-Year % Chg.) House Price Index: Nominal Versus Real Nominal Real 12

13. Single-Family Housing Starts (Thousands of Units, SAAR) 13

14. Multifamily Housing Starts (Thousands of Units, SAAR) 14

15. Manufactured Home Shipments (Thousands of Units, SAAR) 15

16. Residential Remodeling (Billions $2000) 16

17. Residential Fixed Investment (Billions 2000 $, SAAR) 17