RESIDENTIAL REVIEW. Better Technology Better Marketing BETTER RESEARCH Better Education Better Support

RESIDENTIAL REVIEW Better Technology Better Marketing BETTER RESEARCH Better Education Better Support

TABLE OF CONTENTS 3 Residential Resale Overview 4 Residential Investment Research 5 Better Technology 6 Corporate & Developer Services 9 Salt Lake & Summit Counties Market Research 1 Utah & Sevier Counties Market Research 1 1 Asset Management 13 Beaver & Iron Counties Market Research 14 Washington County & Hurricane Valley Market Research 15 Commercial Real Estate Services 17 Las Vegas & Mesquite Areas Market Research TOP ALL-AROUND GENE FRANCIS AWARD 217 ERA BROKERS CONSOLIDATED COMPANY PLATINUM COMPANY ERA 217 ERA BROKERS CONSOLIDATED NETWORK BEST OF UTAH CITY 218 WEEKLY ERA BROKERS CONSOLIDATED Are you ready to buy, sell, rent, or invest? Let us guide you through the process. Visit with one of our trusted real estate professionals today. For more information go to: erabrokers.com

LEAD. INVEST. LEVERAGE. ERA Brokers is a real estate company infused with proprietary real estate technology. It is a subsidiary of Brokers Holdings, LLC, which operates residential and commercial brokerages in Utah, Nevada, Arizona, and Idaho. With over 3 agents and staff, Brokers Holdings combined entities closes over 3,4 transactions worth nearly $1 billion in value annually. In addition it manages more than 1,8 property management units for its clients. RISMEDIA 5 TOP POWER BROKER ERA BROKERS CONSOLIDATED REAL TRENDS LEHI SALT LAKE 5 TOP COMPANY ERA BROKERS CONSOLIDATED BEAVER RICHFIELD SWANEPOEL 217 MEGA 1 COMPANY ERA BROKERS CONSOLIDATED MESQUITE HURRICANE ST. GEORGE SUMMERLIN HENDERSON ERA BROKERS NAI EXCEL NAI VEGAS 1982 Five Firms Merged to Create Brokers Consolidated $1 BIL Amount of Real Estate Sold by Our Agents Last Year #1 Tech Platform for Real Estate ARTI 96% Customer Service Satisfaction Rating 2K Leads Delivered to Our Agents Each Month $25 MIL Assets We Manage for Our Clients 1

RESIDENTIAL RESALE OVERVIEW Average Southern Nevada Mesquite Las Vegas Southern Utah Number of Homes Sold Last 12 Months 1,486 17,678 Washington Co Hurricane Valley Iron Co Sevier Co 36 6 1,156 9,1 Northern Utah 62 4,374 753 34,351 Salt Lake Co Utah Co Summit Co Market T12 Median Sales Price YOY Change T12 Avg Sales Price YOY Change Current Building Permits Salt Lake County, UT Summit County, UT Utah County, UT Sevier County, UT Beaver County, UT Iron County, UT Hurricane Valley, UT Washington County, UT Mesquite, NV Las Vegas, NV $316,813 $825,755 $34,72 $152,585 $153,299 $25,14 $279,41 $31,954 $252,363 $258,15 15% 12% -3% 7% 12% 14% 14% $361,791 $1,254,765 $336,527 $172,16 $155,732 $218,52 $29,673 $341,34 $265,211 $284,262 7% 1% 7% 4% 6% 1% 12% 15% 14% 3,348 998 2,616 66 4 342 195 1,198 219 8,921 3,95 95 4,189 6 4 439 388 2,24 328 6,87 View market reports covering Utah & Nevada at: erabrokers.com Source: MLS, Local Association of Realtors and Construction Monitor 3

RESIDENTIAL INVESTMENT RESEARCH Demand for rental homes remains strong in every market from Las Vegas to Salt Lake and rental rates continue to increase. Purchasing a home has become more expensive as both home prices and interest rates rise. As the hurdle for purchasing a home gets higher, many potential home buyers become longer term renters. The single family revenue index held mostly flat in 218 as increased rents were offset by a rise in the median home price and vacancy rates remained mostly unchanged. Average rental data is provided in this report for single family homes, condos and townhomes. Multifamily research is available for Las Vegas, Northern Utah, and Southern Utah, through our affiliates NAI Vegas and NAI Excel. For property specific information, our residential property managers can provide you with a rent analysis for your individual property or portfolio. Multifamily YE 218 Vacancy Rate Studio/1 Bed 2 Bed 3 Bed Average Rent Lease Rate/SF Average SF Mesquite 2.3% 641 715 1,7 816.84 975 Beaver 6.3% 42 51 665 52.52 1, Richfield 1.1% 45 544 69 517.49 1,51 Las Vegas Single Family Rentals YE 215 YE 218 Las Vegas Condo & Townhome Rentals YE 215 YE 218 Available for Rent Month Supply Single Family Rented Median Rent Price 2 Bed Rented Price 2 Bed Price/SF 3 Bed Rented Price 3 Bed Price/SF 4 Bed Rented Price 4 Bed Price/SF 5 Bed Rented Price 5 Bed Price/SF 2,338 1.61 1,453 4 1,295 1,15.87 1,262.77 1,585.7 1,998.65 1,274 1.3 1,233 23 1,495 1,35 1.1 1,4.89 1,599.79 1,9.74 Available for Rent Month Supply Condos Rented Median Rent Price 1 Bed Rented Price 1 Bed Price/SF 2 Bed Rented Price 2 Bed Price/SF 3 Bed Rented Price 3 Bed Price/SF 1,48 1.77 593 47 9 78.96 925.82 1,34.76 611 1.17 523 25 1,1 875 1.21 1,55.98 1,295.91 Total Single Family, Condo, & Townhome Rentals Las Vegas Mesquite St. George Beaver Richfield Vacancy Rate Revenue Index* 2 Bed 3 Bed 4 Bed 5 Bed Average Rent Lease Rate/SF Average SF Median Price 2.5% 6.2% 163 1,363 1,623 1,897 1,283.83 1,55 256,256 2.5% 5.4% 943 1,156 1,321 NA 975.77 1,26 252,22 2.7% 4.7% 912 1,22 1,661 2,22 1,232.78 1,576 3,335 3.4% 6.7% 63 885 1,19 NA 885.57 1,555 153,299 3.% 6.2% 643 799 94 975 775.52 1,477 149,526 *The single family revenue index tracks actual revenue received against median home prices. This metric does not take into consideration risk based on market size or operating expenses. 4 All Rights Reserved ERA Brokers Consolidated Source: MLS, Local Association of Realtors and Construction Monitor

Better Technology HIRE AGENT DISCLOSURES MARKETING ESCROW DISCOVERY CLOSING Leading the real estate industry with proprietary technology development. Transparency. Structure. Speed. To learn more about ARTI go to: brokerstechnology.com 5

Corporate Services CORPORATE SERVICES Designed for employers who want to offer a benefit to their employees. Proudly serving as the #1 relocation provider for military members & their families. A leading global moving & relocation service provider. The trusted leader among relocation companies, providing mobility services to organizations of all sizes. The trusted resource for home buyers & sellers, offering the most comprehensive search among competing national sites. With approximately 2,35 offices across the world, your ERA Agent can help you with your next move anywhere. 6 All Rights Reserved ERA Brokers Consolidated

Developer & Builder Services Providing services in 12 builder communities across our market area. Land Acquisition & Disposition, Market Research, Custom Builder Representation, Finished Lot, Custom Homes, and Model Home Sales Solutions To learn more about ERA Brokers go to: erabrokers.com 7

SALT LAKE COUNTY Highlights: Median price increased rose 13% over last year Days on market remains low Year-Over-Year: 3.% 2.% -3.% 4 35 3 25 2 15 1 5 Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18 75 6 45 3 15 Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18 By Month 12 Month Rolling Average By Month 12 Month Rolling Average Year-Over-Year price change for the 12 month rolling average. Pending Sales Median Sales Price Average Sales Price List to Sale Price Ratio Building Permits Nov 217 1365 1323 1441 $32, $345,44 97.% 39 2952 2. 224 Nov 218 1493 1166 1339 $319,9 $362,757 97.1% 36 3348 2.5 214 9.4% -11. -7.1% 5. 5.1%.1% -7.7% 13.4% 22.1% -4.5% Last 12 Mo 1894 1473 1473 $316,813 $361,791 98.5% 33 288 1.9 325 3% -2% 2% -1.6% 3% -3% -5% 61% SUMMIT COUNTY Highlights: Median price is 15% higher levels are similar to last year Days on market remains just over 1 days Year-Over-Year: -1.% -9.% -3.% 12 1 8 6 4 2 15 125 1 75 5 25 Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18 Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18 By Month 12 Month Rolling Average By Month 12 Month Rolling Average 15% Year-Over-Year price change for the 12 month rolling average. Pending Sales Median Sales Price Average Sales Price List to Sale Price Ratio Building Permits Nov 217 155 11 115 $637,8 $977,449 95.3% 11 9 7.8 6 Nov 218 162 11 113 $768, $1,136,244 91. 18 998 8.8 3 4.5% 8. -1.7% 2.4% 16.2% -3.6% 6. 1. 12. -5.% Last 12 Mo 23 132 124 $825,755 $1,254,765 94.5% 97 942 7.8 8-1% - - 15% 7% -5.2% 4% -3% 7% -31% Source: MLS, Local Association of Realtors and Construction Monitor 9

UTAH COUNTY Highlights: Median price is 12% higher is rising Days on market hovers around 4 days Year-Over-Year: 8.% 1.% 1.% 3 25 2 15 1 5 75 6 45 3 15 Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18 Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18 By Month 12 Month Rolling Average By Month 12 Month Rolling Average 12% Year-Over-Year price change for the 12 month rolling average. Pending Sales Median Sales Price Average Sales Price List to Sale Price Ratio Building Permits Nov 217 868 718 736 $28,75 $324,711 98.2% 42 1959 2.7 292 Nov 218 134 643 7 $38,924 $346,348 98. 41 2616 3.7 191 19.1% -1.4% -4. 1.% 6.7%.7% -2.4% 33.5% 4.4% -34.6% Last 12 Mo 1212 786 751 $34,72 $336,527 99.2% 38 214 2.8 349 8% 1% 1% 12% 1% -. -4% 1% -2% 15% SEVIER COUNTY Highlights: Median price is holding steady levels are falling Days on market is holding steady Year-Over-Year: 9.% 38.% -13.% 12 1 8 6 4 2 15 125 1 75 5 25 Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18 Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18 By Month 12 Month Rolling Average By Month 12 Month Rolling Average -3% Year-Over-Year price change for the 12 month rolling average. Pending Sales Median Sales Price Average Sales Price List to Sale Price Ratio Building Permits Nov 217 23 17 18 $139, $154,712 94.8% 67 98 5.4 N/A Nov 218 26 22 26 $175,95 $181,395 94.4% 62 66 2.5 N/A 13.% 29.4% 44.4% 26.6% 17.2% -.4% -7.5% -32.7% -53.4% N/A Last 12 Mo 3 26 26 $152,585 $172,16 94.7% 61 81 3.6 N/A 27% 38% -3% 7% -7.1% -28% -13% -33% N/A 1 All Rights Reserved ERA Brokers Consolidated Source: MLS, Local Association of Realtors and Construction Monitor

Asset Management Services We combine the best people, technology, marketing, and research to deliver you the best management experience. 1,8 Units and $25 Million in Assets Managed To learn more about our Property Management go to: erabrokers.com 11

BEAVER COUNTY Highlights: Median price continues to rise ranges between 4-6 units Days on market varies significantly Year-Over-Year: -11.% -13.% -7.% 8 7 6 5 4 3 2 1 Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18 3 225 15 75 Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18 By Month 12 Month Rolling Average By Month 12 Month Rolling Average 7% Year-Over-Year price change for the 12 month rolling average. Pending Sales Median Sales Price Average Sales Price List to Sale Price Ratio Building Permits Nov 217 9 6 7 $97,5 $127,571 97.3% 272 54 7.7 N/A Nov 218 5 1 8 $12,5 $122,63 95.% 98 4 5. N/A -44.4% -83.3% 14.3% 23.6% -4.3% -2.4% -64.% -25. -35.2% N/A Last 12 Mo 8 6 6 $153,299 $155,732 92.5% 146 59 16. N/A -11% -13% -13% 7% 4% -8. -4% -7% N/A IRON COUNTY Highlights: Median price is higher levels are drifting lower Days on market is holding steady Year-Over-Year:.% 11.% -12.% 5 4 3 2 1 15 125 1 75 5 25 Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18 Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18 By Month 12 Month Rolling Average By Month 12 Month Rolling Average Year-Over-Year price change for the 12 month rolling average. Pending Sales Median Sales Price Average Sales Price List to Sale Price Ratio Building Permits Dec 217 7 64 78 $187,2 $21,99 97. 1 357 4.6 15 Dec 218 76 49 65 $219, $238,521 97.4% 13 342 5.3 2 8.6% -23.4% -16.7% 17.% 18.1% -.5% 3.% -4.2% 15.% 33.3% Last 12 Mo 121 16 96 $25,14 $218,52 96.7% 12 379 4.1 32 % 5% 11% 6% -3. - -12% -2% 43% Source: MLS, Local Association of Realtors and Construction Monitor 13

WASHINGTON COUNTY Highlights: Median price is up 12% rose, then reverted to mean Days on market is holding steady Year-Over-Year: 3.% 1.% 1.% 14 12 1 8 6 4 2 75 6 45 3 15 Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18 Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18 By Month 12 Month Rolling Average By Month 12 Month Rolling Average 12% Year-Over-Year price change for the 12 month rolling average. Pending Sales Median Sales Price Average Sales Price List to Sale Price Ratio Building Permits Dec 217 26 314 357 $284,5 $38,941 97.4% 44 156 3. 16 Dec 218 266 235 37 $35, $376,56 96. 55 1198 3.9 117 2.3% -25.2% -14.% 7.2% 21. -.5% 25.% 13.4% 31. -26. Last 12 Mo 485 379 365 $31,954 $341,34 97.8% 56 1119 3.2 184 3% -6% 1% 12% 12% -2.2% -14% 1% % 23% HURRICANE VALLEY Highlights: Median price is up rose at the end of the year Days on market is between 4-6 days Year-Over-Year: -5.% -17.% -1.% 25 2 15 1 5 75 6 45 3 15 Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18 Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18 By Month 12 Month Rolling Average By Month 12 Month Rolling Average Year-Over-Year price change for the 12 month rolling average. Pending Sales Median Sales Price Average Sales Price List to Sale Price Ratio Building Permits Dec 217 35 48 54 $248, $264,76 97.6% 4 147 2.7 21 Dec 218 44 34 4 $283,75 $296,615 97.4% 61 195 4.9 1 25.7% -29.2% -25. 14.4% 12.3% -.2% 52.5% 32.7% 79.1% -52.4% Last 12 Mo 72 56 5 $279,41 $29,673 98. 51 157 3.2 29-5% -15% -17% 1% -1.5% -14% -1% 8% -7% 14 All Rights Reserved ERA Brokers Consolidated Source: MLS, Local Association of Realtors and Construction Monitor

Commercial, Industrial, and Investment Solutions Sold by NAI Excel St. George, Utah Manufacturing Plant 237,3 SF View over 3 properties for sale or lease. Access commercial real estate research for Northern Utah, Southern Utah, and Las Vegas. naiexcel.com and naivegas.com 15

LAS VEGAS AREA Highlights: Median price is up 14%, but slowing is trending down Days on market is between 45-55 days Year-Over-Year: 7.% -6.% 5.% 1 8 6 4 2 75 6 45 3 15 Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18 Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18 By Month 12 Month Rolling Average By Month 12 Month Rolling Average 14% Year-Over-Year price change for the 12 month rolling average. Median Sales Price Average Sales Price List to Sale Price Ratio Building Permits Dec 217 2251 2711 $24, $264,895 98.6% 34 5227 1.9 423 Dec 218 2554 2226 $265, $292,752 97.5% 37 8921 4. 399 13.5% -17. 1.4% 1.5% -1.1% 8.8% 7.7% 17. -5.7% Last 12 Mo 3825 2863 $258,15 $284,262 99.1% 29 6744 2.4 567 7% -6% 14% 14% -1.% -18% 5% 13% -18% MESQUITE AREA Highlights: Median price is up 14%, but slowing is rising Days on market is rising Year-Over-Year: 6.% 2.% -18.% 3 25 2 15 1 5 75 6 45 3 15 Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18 Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18 By Month 12 Month Rolling Average By Month 12 Month Rolling Average 15% Year-Over-Year price change for the 12 month rolling average. Pending Sales Median Sales Price Average Sales Price List to Sale Price Ratio Building Permits Dec 217 54 93 66 $242,5 $245,213 98.6% 46 216 3.3 26 Dec 218 62 14 53 $245, $243,759 97.4% 55 219 4.1 16 14.8% 11.8% -19.7% 1.% -.6% -1.2% 19.6% 1.4% 26.3% -38.5% Last 12 Mo 85 125 63 $252,363 $265,211 98.1% 5 26 3.4 27 6% -2% 2% 14% 15% -2.3% -21% -18% -23% 3% Source: MLS, Local Association of Realtors and Construction Monitor 17

Summerlin 1735 Village Center Circle Las Vegas, NV 89134 72.873.45 Henderson 2855 St. Rose Parkway Henderson, NV 8952 72.94.45 Salt Lake 935 South 15 East #41 Sandy, UT 847 81.341.91 Lehi 291 North Ashton Boulevard Lehi, UT 8443 81.341.99 St. George 21 East St. George Boulevard St. George, UT 8477 435.628.166 Mesquite 1155 West Pioneer Boulevard #14 Mesquite, NV 8927 72.346.72 Hurricane 1 North 1 West Hurricane, UT 84737 435.635.4636 Richfield 745 South Main Street Richfield, UT 8471 435.896.969 Beaver 395 South Main Street Beaver, UT 84713 435.438.166 erabrokers.com No warranty or representation, expressed or implied, is made as to the accuracy of the information contained herein. This report is submitted subject to errors or omissions without notice. No warranties or representations are made or implied as to the condition of any of the information contained herein.