Aug Observations from this Month's Report Inland Valleys Region

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Aug 2014 - Observations from this Month's Report Inland Valleys Region Mark Dowling, Chief Executive Officer Welcome to the Inland Valleys Association of REALTORS (IVAR) monthly housing update.

When reviewing the latest housing data from the region, there are a few noticeable trends emerging through the first half of 2014: Cash buyers continue their downward trend from 34% last year to

Aggressive cash buyers in 2013 helped drive-up median sales prices 25% in 2013.

Standard Sales continue to dominate the Sales Type, with nearly 89% of all regional sales represented as Standard Sales.

1 Aug Observations from this Month's Report Inland Valleys Region Mark Dowling, Chief Executive Officer Welcome to the Inland Valleys Association of REALTORS (IVAR) monthly housing update. As a member benefit, IVAR produces monthly and quarterly housing reports to help members and area leaders better understand what s going on in the regional housing market. When reviewing the latest housing data from the region, there are a few noticeable trends emerging through the first half of 2014: Cash buyers continue their downward trend from 34% last year to approximately 20% in August, This decrease has slowed the demand for housing, which is reflected in an increase in Days on Market. Aggressive cash buyers in 2013 helped drive-up median sales prices 25% in Although median sales prices started to stabilize earlier in the year around $285,000, the last few months have seen the median sales price increase to $307,000. Standard Sales continue to dominate the Sales Type, with nearly 89% of all regional sales represented as Standard Sales. Although the total number of Closed sales have been trending down for 2014 when compared to 2013, New Listings showed a slight year-over-year monthly decrease. Given the significant increase in housing prices over the last year, a new home buying dilemma has sprouted-up as many potential first-time home buyers are finding themselves priced out of the market. According to C.A.R., since 2012, the minimum income required to purchase a houseinthe Inland Empire has increased 57%. This issue has impacted all of California, and is reflected in the average age of current California homebuyers which is now 48. A OBSERVATION: New listings are steadily growing in Although not dramatic, the increase is still noticeable. CONCLUSION: The remainder of 2014 looks positive, if this gradual increase continues. Jobs and the economy this summer will determine where we go from here. OBSERVATION: Median SalesPrice has held steady for four months above the $300K level. CONCLUSION: This indicates we may have reached an equilibrium. E B C OBSERVATION: Closed listings and new listings are tracking together in the positive direction. CONCLUSION: The median sales price of $307K, combined with a steady trend of more closed sales is encouraging. OBSERVATION: Pending Sales sawa 1% increase for August (year-over-year). CONCLUSION: This means slightly more inventory coming into the market. This helps encourage closed sales next month. SALES VOLUMEPER CITY -PAGE 3 OBSERVATION: The combined Sales Volume of the top 5 communities (approx. $395M) is equivalent to the combined volume of the bottom 25. COMMUNITIES WITH NEW LISTINGS - PAGE 4 OBSERVATION: Only one community achieved a yearover-year growth in New Listings of 50% or more (Colton). COMMUNITIES WITH NEW LISTINGS - PAGE 4 OBSERVATION: 19 communities had a year-over-year drop or no-change in New Listings. F G H D OBSERVATION: Sales Volume and Sold Transactions are both down from 1 year ago. CONCLUSION: The market was in a recovery phase last year at this time. It's not necessarily bad news for sales to be down compared to these previous numbers. A market with steady sales is preferable to lots of market volatility. RATIO OF SELL VS. ORIGINAL LIST -PAGE 5 OBSERVATION: For three months, there has been increased pressure on lowered expectations between original list and final sell price. CONCLUSION: The regional market is finding a "new normal". The key for agents is to look for the hot-spots I IVAR Member Services: Rancho Cucamonga: Office FAX:

Aug 2014 - Monthly Report Inland Valleys Regional Summary Aug-2013 Aug-2014 Annual

Sales Sold Listings C D 5,295 5,164-3% 3,616 3,653 1% 3,900 3,133-24% 1000 0 Median

25% -2% Days on Market 27 43 37% Cumm DOM 36 50 28% 500 0 All data used to generate

If you have any questions about the data, please call the CRMLS Customer Service

3:00pm Saturday and Sunday at 800-925-1525 or 909-859-2040.

285 280 285 285 285 290 297 302 310 308 307 E 250 88.8% 3.7% 4.9% 2.

2 Aug Monthly Report Inland Valleys Regional Summary Aug-2013 Aug-2014 Annual Change New Listings (Last 12 Months) A New Listings Pending Sales Sold Listings C D 5,295 5,164-3% 3,616 3,653 1% 3,900 3,133-24% Median Sales Price Sales Volume ($M) D $271,800 $307,000 11% $1,190 $1,095-9% Closed Listings (Last 12 Months) Price/Sq.Ft. $153 $172 11% B Sold $/List $ % 98.25% -2% Days on Market % Cumm DOM % All data used to generate these reports comes from the California Regional Multiple Listing Service, Inc. If you have any questions about the data, please call the CRMLS Customer Service Department between the hours of 8:30am to 9:00pm Monday thru Friday or 10:00am to 3:00pm Saturday and Sunday at or Median Sales Price (Last 12 months) 310 Thousands E % 3.7% 4.9% 2.6% Sale Type Other REO Sales Short Sales Standard Sales 27% 14% Finance Type 20% Cash Conventional FHA Other 39% IVAR Member Services: Rancho Cucamonga: Office FAX:

3 Aug 2014 City Overview As a service and convenience to our members, IVAR is pleased to offer several "Quick Look" reports. This is one more way for IVAR members to stay informed with minimal effort. The following monthly data shows "YEAR-OVER-YEAR" (YOY)changes as well as current conditions in the real estate market YOY Sales Transactions YOY Median Sales Price % Median Sales Price $ Price per Sq.Ft. Total Days on Market Banning 2% -3% $ 180,000 $ Beaumont -23% 22% $ 269,977 $ Bloomington -5% 14% $ 227,000 $ Canyon Lake -40% 20% $ 401,050 $ Chino -35% 8% $ 389,000 $ Chino Hills -1% 7% $ 547,500 $ Claremont -14% 0% $ 566,000 $ Colton -26% 35% $ 220,000 $ Corona -35% -2% $ 382,000 $ Diamond Bar -41% 3% $ 556,500 $ Eastvale 12% 8% $ 483,000 $ Fontana -15% 8% $ 305,000 $ Hemet -20% 17% $ 176,000 $ Highland -24% 21% $ 262,000 $ Jurupa Valley -41% 6% $ 296,500 $ La Verne -32% 20% $ 576,000 $ Lake Elsinore 11% 12% $ 285,000 $ Loma Linda 17% 31% $ 392,500 $ Menifee -12% 13% $ 287,250 $ Montclair -25% 7% $ 339,500 $ Moreno Valley -21% 14% $ 240,000 $ Murrieta -13% 10% $ 350,000 $ Ontario -18% 22% $ 330,000 $ Perris -24% 22% $ 225,000 $ Pomona -13% 10% $ 320,000 $ Rancho Cucamonga -24% 8% $ 390,000 $ Redlands -22% 8% $ 301,500 $ Rialto -16% 10% $ 249,000 $ Riverside -20% 22% $ 320,000 $ San Bernardino -12% 37% $ 200,000 $ San Dimas 17% 36% $ 554,000 $ San Jacinto -25% 10% $ 182,000 $ Sun City -14% 24% $ 195,000 $ Temecula 0% 13% $ 390,500 $ Upland -25% 34% $ 492,000 $ Wildomar 17% 5% $ 295,000 $ Winchester -38% 10% $ 321,308 $ Yucaipa -30% 6% $ 277,000 $

Aug 2014 - Sales Volume per City As a service and convenience to our members, IVAR is pleased to offer several "Quick Look" reports.

Corona Riverside Temecula Murrieta Rancho Cucamonga Fontana Chino Hills Moreno Valley Diamond Bar San Bernardino Menifee Ontario Hemet Upland Lake Elsinore Eastvale

Linda Jurupa Valley Sun City Bloomington $6.3M $5.2M $4.9M $4.7M $4.3M $11.5M $11.3M $10.3M $8.8M $7.9M $16.4M $16.2M $15.2M $14.4M $14.1M $14.0M $12.9M $20.7M $17.

4 Aug Sales Volume per City As a service and convenience to our members, IVAR is pleased to offer several "Quick Look" reports. This is one more way for IVAR members to stay informed with minimal effort. Corona Riverside Temecula Murrieta Rancho Cucamonga Fontana Chino Hills Moreno Valley Diamond Bar San Bernardino Menifee Ontario Hemet Upland Lake Elsinore Eastvale Pomona Chino Claremont Redlands Rialto San Dimas Perris Beaumont Wildomar Yucaipa La Verne Highland Canyon Lake San Jacinto Winchester Banning Montclair Colton Loma Linda Jurupa Valley Sun City Bloomington $6.3M $5.2M $4.9M $4.7M $4.3M $11.5M $11.3M $10.3M $8.8M $7.9M $16.4M $16.2M $15.2M $14.4M $14.1M $14.0M $12.9M $20.7M $17.4M $27.0M $26.6M $25.4M $23.8M $32.7M $32.4M $29.2M $28.8M $28.7M $35.9M $35.6M $43.5M $41.0M Legend: $55.3M $54.5M $65.4M $72.0M $98.7M $103.1M 5 Communities with combined Sales Volume of $395M F 25 Communities with combined Sales Volume of $377M The BLUE bars show the last month's sales volume for each city.

Aug 2014 - Top Communities with New Listings (year-over-year) As a service and convenience to our members, IVAR is pleased to offer several "Quick Look" reports.

1 Colton Loma Linda La Verne Claremont Canyon Lake Banning Yucaipa Moreno Valley Montclair Sun City Eastvale Lake Elsinore Chino Wildomar Winchester Temecula Corona Menifee Beaumont San Jacinto

5 Aug Top Communities with New Listings (year-over-year) As a service and convenience to our members, IVAR is pleased to offer several "Quick Look" reports. This is one more way for IVAR members to stay informed with minimal effort Colton Loma Linda La Verne Claremont Canyon Lake Banning Yucaipa Moreno Valley Montclair Sun City Eastvale Lake Elsinore Chino Wildomar Winchester Temecula Corona Menifee Beaumont San Jacinto Ontario San Bernardino Hemet Riverside Chino Hills Rialto Bloomington Fontana Redlands Pomona Highland Murrieta Upland Jurupa Valley Rancho Cucamonga San Dimas Perris Diamond Bar % -2.2% -5.0% -7.8% -9.2% -10.3% -11.2% -11.5% -11.9% -12.7% -14.2% -15.5% -16.7% -18.0% -18.6% -25.8% -30.2% 3.5% 1.2% 1.1% 1.0% 0.0% 0.0% 8.8% 8.1% 7.5% 14.7% 14.3% 14.3% 12.1% 22.4% 21.4% 17.7% 25.0% 22.5% 22.5% Legend: 43.8% G 1 community with 50% or more increase in New Listings (year-overyear) H 19 communities with zero or negative change in New Listings (yearover-year) Thecolumn of numbers on the left is the # of new listings in each city for last month. The BLUE bars show the annual percent change since the same quarter, 1 year ago %

6 Sell Price vs Original List Price As a service and convenience to our members, IVAR is pleased to offer several "Quick Look" reports. This is one more way for IVAR members to stay informed with minimal effort % More pressure to lower Sellprice expectations % % % Legend: Anynumber ABOVE 100% means there is upward pressure to raise the sell price. Anynumber BELOW 100% means there is downward pressure to lower the sell price. I % % % % The IVAR team has worked hard to improve services and make IVAR a better business association. IVAR is committed to defining its service and building member relationships not with promotional gimmicks and giveaways, but rather by refining a businessminded approach to serve our members' professional needs with our problem-solving approach. In the last year, IVAR has expanded services to include: - Free local housing data & customized reports, available online to our members at -Two offices located in Riverside & Rancho Cucamonga, Open 5 Days a Week - Government Affairs supporting property rights and REALTOR business interests at - Mobile IVAR Member Services staff provide on-site training and customer support directly to your office - Online reference guides to help members navigate local laws related to real estate - Increased Affiliate Member promotions -Expanded education and training opportunities focusing on short-sale techniques, technology applications and business planning By focusing on value-added services, IVAR is committed to being the board of choice for Inland Empire REALTORS. If you have any questions or suggestions on how IVAR can provide better services, please feel free to contact me at Mark Dowling, Chief Executive Officer

Nov Observations from this Month's Report Inland Valleys Region

Nov Observations from this Month's Report Inland Valleys Region Nov 2014 - Observations from this Month's Report Inland Valleys Region Mark Dowling, Chief Executive Officer Welcome to the Inland Valleys Association of REALTORS (IVAR) monthly housing update. As a member