Summary Statistics. Closed Sales. Paid in Cash. New Pending Sales. New Listings. Median Sale Price. Average Sale Price. Median Days on Market

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1 Summary Statistics December 15 December 14 Paid in Cash % % New Pending Sales % % $2, $225, -2.% Average Sale Price $3,655 $285, % Median Days on Market % Average Percent of Original List Price Received 91.8% 92.% -.2% Pending (Active Listings) % % s Supply of % The number of sales transactions which closed during Economists' note : are one of the simplest yet most important indicators for the residential real estate market. When comparing across markets of different sizes, we recommend using the year-over-year percent changes rather than the absolute counts. Realtors and their clients should also be wary of month-to-month comparisons of because of potential seasonal effects. December % November % October % September % August 15 July 15 June 15 May 15 April % 39.5% 9.1% 93.5% -19.2% March % February 15 January % -8.8% December % Data released on Friday, January 22, 16. Next data release is Tuesday,February 23, 16.

2 Pct. of Closed Sales Paid in Cash Cash Sales Cash Sales The number of during in which buyers exclusively paid in cash Economists' note : Cash Sales can be a useful indicator of the extent to which investors are participating in the market. Why? Investors are far more likely to have the funds to purchase a home available up front, whereas the typical homebuyer requires a mortgage or some other form of financing. There are, of course, many possible exceptions, so this statistic should be interpreted with care. Cash Sales December % November % October % September % August % July % June % May % April % March % February % January % December % Cash Sales as a Percentage of The percentage of during which were Cash Sales Economists' note : This statistic is simply another way of viewing Cash Sales. The remaining percentages of (i.e. those not paid fully in cash) each month involved some sort of financing, such as mortgages, owner/seller financing, assumed loans, etc. Percent of Closed Sales Paid in Cash December % -.6% November % -11.9% October % -14.3% September % 49.% August % -22.2% July % -3.4% June % 29.% May 15.7% 3.4% April % -15.8% March % 6.1% February % 3.% January % -1.3% December % -17.7% 11% 9% 7% 5% 3% Data released on Friday, January 22, 16. Next data release is Tuesday,February 23, 16.

3 Pending Sales New Pending Sales The number of property listings that went from "Active" to "Pending" status during Economists' note : Because of the typical length of time it takes for a sale to close, economists consider Pending Sales to be a decent indicator of potential future. It is important to bear in mind, however, that not all Pending Sales will be closed successfully. So, the effectiveness of Pending Sales as a future indicator of Closed Sales is susceptible to changes in market conditions such as the availability of financing for homebuyers and the inventory of distressed properties for sale. December 15 November 15 October 15 September August July 15 June 15 May 15 April 15 March 15 February 15 January 15 December 14 New Pending Sales % -14.3% -25.% 12.8% -2.2%.% 11.5%.% 16.4% -13.2% 25.% 1.2% -28.6% The number of properties put onto the market during Economists' note : In a recovering market, we expect that new listings will eventually rise as sellers raise their estimations of value. But this increase will take place only after the market has turned up, so New Listings are a lagging indicator of the health of the market. Also be aware of properties which have been withdrawn from the market and then relisted. These are not really. December 15 November 15 October 15 September 15 August 15 July 15 June 15 May 15 April 15 March 15 February 15 January 15 December % -1.8% -1.6% -3.2% -34.8%.% 6.%.5% -16.9% 9.6% 16.9% -13.% 45.2% Data released on Friday, January 22, 16. Next data release is Tuesday,February 23, 16.

4 Average Sale Price The median sale price reported for (i.e. 5% of sales were above and 5% of sales were below) Economists' note : is our preferred summary statistic for price activity because, unlike Average Sale Price, Median Sale Price is not sensitive to high sale prices for small numbers of homes that may not be characteristic of the market area. December 15 $2, -2.% November 15 $199,5.8% October 15 $237, % September 15 $, -.4% August 15 $252,5 22.9% July 15 $23, -2.1% June 15 $255, 31.4% May 15 $2, 24.6% April 15 $5,25.7% March 15 $215, 16.2% February 15 $222,45 8.5% January 15 $165, -5.% December 14 $225, 4.7% $27K $2K $17K $1K Average Sale Price The average sale price reported for (i.e. total sales in dollars divided by the number of sales) Economists' note : As noted above, we prefer over Average Sale Price as a summary statistic for home prices. However, Average Sale Price does have its uses particularly when it is analyzed alongside the. For one, the relative difference between the two statistics can provide some insight into the market for higher-end homes in an area. Average Sale Price December 15 $3, % November 15 $227,43-4.2% October 15 $271, % September 15 $263,5 2.3% August 15 $271,8 17.3% July 15 $265, % June 15 $3, % May 15 $276, % April 15 $244, % March 15 $238, % February 15 $231,82-14.% January 15 $2, % December 14 $285, % $3K $29K $2K $19K $1K Data released on Friday, January 22, 16. Next data release is Tuesday,February 23, 16.

5 Avg. Pct. of Orig. List Price Received Median Days on Market Median Days on Market The median number of days that properties sold during were on the market Economists' note : Median Days on Market is the amount of time the "middle" property selling this month was on the market. That is, 5% of homes selling this month took less time to sell, and 5% of homes took more time to sell. We use the median rather than the average because the median is not particularly sensitive to sales of homes that took an unusually large amount of time to sell relative to the vast majority of homes in the market. Median Days on Market December % November % October % September % August % July % June % May % April % March % February % January % December % Average Percent of Original List Price Received The average of the sale price (as a percentage of the original list price) across all properties selling during Economists' note : The Average Percent of Original List Price Received is an indicator of market conditions, in that in a recovering market, the measure rises as buyers realize that the market may be moving away from them and they need to match the selling price (or better it) in order to get a contract on the house. This is usually the last measure to indicate a market that has shifted from down to up, and is another lagging indicator. Avg. Pct. of Orig. List Price Received December % -.2% November % 5.2% October % -2.5% September % -1.7% August % 2.3% July %.4% June % 1.5% May %.5% April % -.3% March % 1.9% February % 3.6% January % 2.7% December % 1.4% 15% % 85% 75% 65% Data released on Friday, January 22, 16. Next data release is Tuesday,February 23, 16.

6 s Supply of (Active Listings) The number of property listings active at the end of Economists' note : There are a number of ways to calculate, so these numbers may not match up to others you see in your market. We calculate by counting the number of active listings on the last day of, and hold this number to compare with the same month the following year. December % November % October % September % August % July % June % May % April % March % February % January % December % s Supply of An estimate of the number of months it will take to deplete the current given recent sales rates Economists' note : This is an indicator of the state of the market, whether it is a buyers' market or a sellers' market. The benchmark for a balanced market (favoring neither buyer nor seller) is 5.5 s of. Higher numbers indicate a buyers' market, lower numbers a sellers' market. s Supply December % November % October % September % August % July % June % May % April % March % February % January % December % Data released on Friday, January 22, 16. Next data release is Tuesday,February 23, 16.

7 Median Days on Market by Sale Price The number of sales transactions which closed during Economists' note : are one of the simplest yet most important indicators for the residential real estate market. When comparing across markets of different sizes, we recommend using the year-over-year percent changes rather than the absolute counts. Realtors and their clients should also be wary of month-to-month comparisons of because of potential seasonal effects Less than $5, December 14 December 15 $5, - $99,999 $, - $149,999 $15, - $199,999 $, - $249,999 $25, - $299,999 Sale Price Less than $5, -.% $5, - $99,999 2.% $, - $149,999 6.% $15, - $199,999 1.% $, - $249, % $25, - $299,999 3.% $3, - $399,999 6.% $, - $599, % $, - $999, % $1,, or more 1.% $3, - $399,999 $, - $599,999 $, - $999,999 $1,, or more Median Days on Market by Sale Price The median number of days that properties sold during were on the market Economists' note: Median Days on Market is the amount of time the "middle" property selling this month was on the market. That is, 5% of homes selling this month took less time to sell, and 5% of homes took more time to sell. We use the median rather than the average because the median is not particularly sensitive to sales of homes that took an unusually large amount of time to sell relative to the vast majority of homes in the market Less than $5, December 14 December 15 $5, - $99,999 $, - $149,999 $15, - $199,999 $, - $249,999 $25, - $299,999 Sale Price $5, - $99, % $, - $149,999 Median Days on Market Less than $5, (No Sales) N/A % $15, - $199, % $, - $249, % $25, - $299, % $3, - $399, % $, - $599, % $, - $999, % $1,, or more % $3, - $399,999 $, - $599,999 $, - $999,999 $1,, or more Data released on Friday, January 22, 16. Next data release is Tuesday,February 23, 16.

8 by Initial Listing Price The number of properties put onto the market during Economists' note: In a recovering market, we expect that new listings will eventually rise as sellers raise their estimations of value. But this increase will take place only after the market has turned up, so New Listings are a lagging indicator of the health of the market. Also be aware of properties which have been withdrawn from the market and then relisted. These are not really. 25 December 14 December 15 Initial Listing Price Less than $5, 1 N/A $5, - $99,999 6.% $, - $149,999 4.% $15, - $199, % $, - $249, % $25, - $299, % $3, - $399, % $, - $599,999 9.% $, - $999, % $1,, or more 1 N/A Less than $5, $5, - $99,999 $, - $149,999 $15, - $199,999 $, - $249,999 $25, - $299,999 $3, - $399,999 $, - $599,999 $, - $999,999 $1,, or more by Current Listing Price The number of property listings active at the end of Economists' note: There are a number of ways to calculate, so these numbers may not match up to others you see in your market. We calculate by counting the number of active listings on the last day of, and hold this number to compare with the same month the following year Less than $5, December 14 December 15 $5, - $99,999 $, - $149,999 $15, - $199,999 $, - $249,999 $25, - $299,999 Current Listing Price Less than $5, % $5, - $99, % $, - $149, % $15, - $199, % $, - $249, % $25, - $299, % $3, - $399, % $, - $599, % $, - $999, % $1,, or more % $3, - $399,999 $, - $599,999 $, - $999,999 $1,, or more Data released on Friday, January 22, 16. Next data release is Tuesday,February 23, 16.

9 ly Distressed Market - December 15 December 15 December 14 Traditional % $222, $225, -1.3% Foreclosure/REO 1 1.% $135,5 $, -66.1% Short Sale 1 -.% (No Sales) $82, N/A % 9% % 7% % 5% % 3% % 1% % $45, Traditional Foreclosure/REO Short Sale $, $35, $3, $25, $, $15, $, $5, $ Data released on Friday, January 22, 16. Next data release is Tuesday,February 23, 16.