Monthly Indicators. Monthly Snapshot. July % + 7.8% %

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1 Monthly Indicators For residential real estate activity by members of the Florida REALTORS 2012 A few short years ago, housing was considered a headwind to economic recovery. Today, housing is seen as a tailwind to a stalling economy. For the first time since 2005, housing is on track for contributing positively to national GDP in That can occur either by way of direct residential investment or through remodeling and other ancillary services. Watch for signs of sustained tailwinds in a variety of indicators, including market times, seller concessions, prices and absorption rates. Monthly Snapshot + 9.8% + 7.8% % One-Year in Closed Sales Homes One-Year in Median Sales Price Homes One-Year in Homes for Sale Homes Residential real estate activity comprised of single-family properties, townhomes and condominiums combined. Percent changes are calculated using rounded figures. New Listings were up 5.4 percent for detached homes and 1.7 percent for attached properties. Pending Sales increased 42.2 percent for single-family homes and 26.1 percent for townhouse-condo properties. The Median Sales Price was up 7.8 percent to $148,000 for detached homes and 10.9 percent to $102,000 for attached properties. Months Supply of Inventory decreased 41.1 percent for single-family units and 40.0 percent for townhouse-condo units. Sustained recovery will not occur without real employment and wage growth. Consumers must be confident in both the economy and their family finances before signing on the dotted line. Cheap borrowing costs have served as the glue binding things together. Unimaginable a few years ago, the rate on a 30- year fixed mortgage recently ducked below the 3.49 percent marker. Job creation and GDP numbers will garner particular attention this quarter. Market Overview Market Overview New Listings Pending Sales Closed Sales Days on Market Until Sale Median Sales Price Average Sales Price Percent of Original List Price Received Housing Affordability Index Inventory of Homes for Sale Months Supply of Inventory Data as of August 15, All data from the multiple listing services located in Florida. Provided by Florida REALTORS. Powered by 10K Research and Marketing.

2 Market Overview Key metrics for Properties Only, excluding Manufactured Housing, for the report month and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparklines Percent YTD 2011 YTD 2012 Percent New Listings 24,953 26, % 194, , % Pending Sales 16,366 23, % 125, , % Closed Sales 15,863 17, % 113, , % Days on Market % % Median Sales Price $137,300 $148, % $130,000 $142, % Average Sales Price $214,221 $215, % $208,613 $220, % Pct. of Orig. Price Received 88.8% 91.5% + 3.0% 88.0% 90.7% + 3.1% Affordability Index % % Homes for Sale 149, , % Months Supply % Data as of August 15, All data from the multiple listing services located in Florida. Provided by Florida REALTORS. Powered by 10K Research and Marketing. Click for Cover 2

3 Market Overview Key metrics for Properties Only for the report month and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparklines Percent YTD 2011 YTD 2012 Percent New Listings 11,829 12, % 100,296 96, % Pending Sales 8,278 10, % 69,348 76, % Closed Sales 7,570 7, % 62,914 60, % Days on Market % % Median Sales Price $92,000 $102, % $90,000 $105, % Average Sales Price $159,013 $170, % $160,113 $180, % Pct. of Orig. Price Received 89.6% 92.5% + 3.3% 88.7% 91.4% + 3.0% Affordability Index % % Homes for Sale 80,992 51, % Months Supply % Data as of August 15, All data from the multiple listing services located in Florida. Provided by Florida REALTORS. Powered by 10K Research and Marketing. Click for Cover 3

4 New Listings A count of the properties that have been newly listed on the market in a given month. 32, , ,410193,946 26,288 24, ,527 16, ,296 96,256 11,829 12, % 6.4% % 3% +54% 5.4% +138% 13.8% % +17% 1.7% +93% 9.3% % -0.2% 02% +173% 17.3% % 1% -4.0% 40% New Listings August , % 13, % September , % 12, % October , % 13, % November , % 13, % December , % 11, % January , % 15, % February , % 14, % March , % 14, % April , % 13, % May , % 13, % June , % 12, % , % 12, % 12-Month Avg. 26, % 13, % Historical New Listings by Month 50,000 40,000 30,000 20,000 10,000 Data as of August 15, All data from the multiple listing services located in Florida. Provided by Florida REALTORS. Powered by 10K Research and Marketing. Click for Cover 4

5 Pending Sales A count of the properties on which offers have been accepted in a given month. 23, , , ,518 16,366 14,832 76,033 10,440 69,348 60,689 8,278 7, % +103% 10.3% +422% 42.2% +47% 4.7% +102% 10.2% +261% 26.1% +46% 4.6% +81% 8.1% +184% 18.4% +294% 29.4% +143% 14.3% +96% 9.6% Pending Sales August , % 8, % September , % 7, % October , % 7, % November , % 7, % December , % 7, % January , % 9, % February , % 10, % March , % 12, % April , % 11, % May , % 11, % June , % 10, % , % 10, % 12-Month Avg. 18, % 9, % Historical Pending Sales by Month 25,000 20,000 15,000 10,000 5,000 0 Data as of August 15, All data from the multiple listing services located in Florida. Provided by Florida REALTORS. Powered by 10K Research and Marketing. Click for Cover 5

6 Closed Sales A count of the actual sales that closed in a given month. 17, , ,428 15, ,709 14,250 62,914 60,807 7,570 7,779 54,977 7, % +113% 11.3% +98% 9.8% +65% 6.5% +77% 7.7% +28% 2.8% +125% 12.5% +43% 4.3% +34% 3.4% +393% 39.3% +144% 14.4% -3.3% 33% Closed Sales August , % 8, % September , % 7, % October , % 7, % November , % 6, % December , % 7, % January , % 6, % February , % 7, % March , % 9, % April , % 9, % May , % 10, % June , % 9, % , % 7, % 12-Month Avg. 16, % 8, % Historical Closed Sales by Month 20,000 17,500 15,000 12,500 10,000 7,500 5,000 2,500 Data as of August 15, All data from the multiple listing services located in Florida. Provided by Florida REALTORS. Powered by 10K Research and Marketing. Click for Cover 6

7 Days on Market Until Sale Median number of days between when a property is listed and when an offer is accepted in a given month % +226% 22.6% % % +123% 12.3% % % +254% 25.4% % 7% % +143% 14.3% % Days on Market August % % September % % October % % November % % December % % January % % February % % March % % April % % May % % June % % % % 12-Month Med.* % % * Days on Market for all properties from August 2011 through This is not the Median of the individual figures above. Historical Days on Market Until Sale by Month Data as of August 15, All data from the multiple listing services located in Florida. Provided by Florida REALTORS. Powered by 10K Research and Marketing. Click for Cover 7

8 Median Sales Price Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month. $148,000 $140,000 $140,000 $142,000 $137,300 $130,000 $102,000 $105,000 $98,000 $89,000 $92,000 $90, % 67% -1.9% 19% +78% 7.8% % +34% 3.4% +109% 10.9% - 3.4% 34% -7.1% 71% +92% 9.2% % -8.2% 82% +167% 16.7% Median Sales Price August 2011 $139, % $91, % September 2011 $135, % $89, % October 2011 $133, % $89, % November 2011 $134, % $90, % December 2011 $135, % $93, % January 2012 $128, % $94, % February 2012 $133, % $95, % March 2012 $138, % $103, % April 2012 $144, % $109, % May 2012 $147, % $112, % June 2012 $151, % $110, % 2012 $148, % $102, % 12-Month Med.* $140, % $99, % * Median Sales Price for all properties from August 2011 through This is not the Median of the individual figures above. Historical Median Sales Price by Month $220,000 $200,000 $180,000 $160,000 $140,000 $120,000 $100,000 $80,000 Data as of August 15, All data from the multiple listing services located in Florida. Provided by Florida REALTORS. Powered by 10K Research and Marketing. Click for Cover 8

9 Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month. $220,198 $211,690 $214,221 $215,501 $207,802 $208,613 $180,144 $170,322 $165,955 $159,013 $160,113 $149, % 0.4% +12% 1.2% +06% 0.6% -9.1% 91% +61% 6.1% +71% 7.1% +05% 0.5% +04% 0.4% +56% 5.6% -5.1% 51% -3.5% 35% +125% 12.5% Average Sales Price August 2011 $204, % $158, % September 2011 $201, % $152, % October 2011 $198, % $149, % November 2011 $201, % $153, % December 2011 $209, % $167, % January 2012 $199, % $161, % February 2012 $201, % $166, % March 2012 $213, % $174, % April 2012 $232, % $190, % May 2012 $233, % $197, % June 2012 $234, % $188, % 2012 $215, % $170, % 12-Month Avg.* $213, % $171, % * Average Sales Price for all properties from August 2011 through This is not the Average of the individual figures above. Historical Average Sales Price by Month $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 Data as of August 15, All data from the multiple listing services located in Florida. Provided by Florida REALTORS. Powered by 10K Research and Marketing. Click for Cover 9

10 Percent of Original List Price Received Percentage found when dividing a property s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions. 89.6% 91.5% 92.5% 88.8% 89.9% 89.6% 89.7% 90.7% 88.0% 89.0% 91.4% 88.7% +20% 2.0% -1.0% 10% +30% 3.0% +49% 4.9% -0.3% 03% +33% 3.3% +40% 4.0% -1.8% 18% +31% 3.1% +66% 6.6% -0.3% 03% +30% 3.0% Pct. of Orig. Price Received August % -0.0% 90.1% +0.4% September % +1.2% 90.5% +1.3% October % +1.5% 90.7% +2.2% November % +2.0% 90.5% +2.4% December % +1.8% 90.7% +2.3% January % +2.1% 90.9% +2.0% February % +2.7% 90.8% +2.9% March % +3.2% 90.8% +3.2% April % +3.3% 90.8% +2.9% May % +3.3% 91.6% +3.2% June % +3.2% 92.0% +3.0% % +3.0% 92.5% +3.3% 12-Month Avg.* 90.2% +2.4% 91.0% +2.5% * Pct. of Orig. Price Received for all properties from August 2011 through This is not the Average of the individual figures above. Historical Percent of Original List Price Received by Month 94% 92% 90% 88% 86% 84% 82% 80% Data as of August 15, All data from the multiple listing services located in Florida. Provided by Florida REALTORS. Powered by 10K Research and Marketing. Click for Cover 10

11 Housing Affordability Index This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability % 14.4% -2.9% 29% +24% 2.4% +231% 23.1% -6.7% 67% +02% 0.2% +113% 11.3% +13% 1.3% +14% 1.4% +190% 19.0% +15% 1.5% -3.4% 34% Affordability Index August % % September % % October % % November % % December % % January % % February % % March % % April % % May % % June % % % % 12-Month Avg % % Historical Housing Affordability Index by Month Data as of August 15, All data from the multiple listing services located in Florida. Provided by Florida REALTORS. Powered by 10K Research and Marketing. Click for Cover 11

12 Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month. 185, , , ,657 80,992 51, % 7.0% % % +97% 9.7% % % 3% Homes for Sale August , % 78, % September , % 77, % October , % 76, % November , % 76, % December , % 73, % January , % 73, % February , % 71, % March , % 67, % April , % 64, % May , % 60, % June , % 55, % , % 51, % 12-Month Avg.* 129, % 68, % * Homes for Sale for all properties from August 2011 through This is not the Average of the individual figures above. Historical Inventory of Homes for Sale by Month 225, , , , , ,000 75,000 50,000 Data as of August 15, All data from the multiple listing services located in Florida. Provided by Florida REALTORS. Powered by 10K Research and Marketing. Click for Cover 12

13 Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months % 71% % % 1% % 2% % 3% % 0% Months Supply August % % September % % October % % November % % December % % January % % February % % March % % April % % May % % June % % % % 12-Month Avg.* % % * Months Supply for all properties from August 2011 through This is not the Average of the individual figures above. Historical Months Supply of Inventory by Month Data as of August 15, All data from the multiple listing services located in Florida. Provided by Florida REALTORS. Powered by 10K Research and Marketing. Click for Cover 13