Question-and-Answer Session
Thank you, ladies and gentlemen at this time we will begin the question and answer session. [Operator Instructions] Our first question from the line of Michael Bilerman please state your company followed by your question.
Unidentified Analyst
Hi this is David Toddy [ph] here with Michael. Just a couple of quick questions, to start with development. Has there been any changes to your underwritings relative to costs expected stabilized yields and the timing?
W. Mark Wallis - Senior Executive Vice President
This is Mark Wallis, no; there has not been any significant changes at this point. As you can see the pipeline remains fairly stabilized so is volume. So nothing at this point we try to underwrite those conservatively and so far, that's held.
Unidentified Analyst
Great. And then relative to the shadow pipeline it appears that it's increased in scale. Can you just provide some color on those additions?
W. Mark Wallis - Senior Executive Vice President
Are you referring to... I guess the last Exhibit pay test [ph]. It moved I believe part of it is we've moved part of the trivial [ph] over there or just because those are lighter places which are the income producing assets on there.
And in addition we've moved, we should go back to where that is a site we have that has entitlements but we're finding those entitlements at this time and we would term that entry in this development a little bit later than originally thought.
Unidentified Analyst
Okay. And forgive me I joined the call a little bit late, but could you talk a little bit about the traffic and the price tolerance that you're seeing of incoming customers in June and July?
Jerry A. Davis - Senior Vice President of Property Operations
Traffic, this is Jerry. Traffic's holding up pretty steady with last year. It's gone up just a hair and that's probably because we rolled out our level one call center in at the end of the... we are in the middle of rather the second quarter. And that's helped push traffic higher, so we don't miss any phone calls any longer.
Pricing, we have pricing strength up in the Pacific North West as well as Northern California. We're typically seeing 4% to 5% increases on either renewals or incoming people over what they have prior resident was paying. I'd say for the rest of the country with the exception of Florida, Phoenix and the England Empire we're probably seeing in the 2% range and then when you get to Florida, Phoenix and the England Empire it's roughly flat.
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