New Housing Market Review. THE COMPANY 28 year history and experience Serving 31 markets nationwide Leading provider of primary and secondary market information.

New Housing Market Review

THE COMPANY

•28 year history and experience

•Serving 31 markets nationwide

•Leading provider of primary and secondary market information to the homebuilding and related industries

METROSTUDY PRIMARY RESEARCH METHODOLOGY

• COMPREHENSIVE - We drive the streets of every active AND planned subdivision using a copy of the plat. Visually inspect and record data on every lot.

• TIMELY – Years of execution ensure a highly managed timeline for rapid delivery of our survey results. Complete survey during last 2 weeks of calendar quarter.

• ACCURATE – With laser focus on the information that is most important, we train our field research personnel to follow strict research rules to insure consistency and accuracy.

METROSTUDY TIMELINE

• Research begins at Planning & Zoning• Our field personnel use Recorded Plats• Researchers drive every platted new home

subdivision of 4 lots or more every 90 days• We drive every street of every active

project• Deliver finished research to clients within

thirty days of end of quarter• Accurate information on future and vacant

lots, starts, closings, absorption, products, and pricing.

Salt Lake

No. Cal.

So. Cal.

Denver

Phoenix

Tucson

DFW

Austin

San AntonioHouston

South Fla.

North Fla.

Tampa Bay

Naples

Chicago

DC-MD-NVA

RaleighCharlotte

Atlanta

ATLANTA HOUSING MARKETATLANTA HOUSING MARKETATLANTA HOUSING MARKETATLANTA HOUSING MARKET

$130,000

$140,000

$150,000

$160,000

$170,000

$180,000

$190,000

4Q93

2Q94

4Q94

2Q95

4Q95

2Q96

4Q96

2Q97

4Q97

2Q98

4Q98

2Q99

4Q99

2Q00

4Q00

2Q01

4Q01

2Q02

4Q02

2Q03

5.00%

5.50%

6.00%

6.50%

7.00%

7.50%

8.00%

8.50%

9.00%

9.50%

HOME PRICE MORTAGE RATE

HOUSING AFFORDABILITY $60K Household Income

North Atlanta Housing Market

NORTH ATLANTA HOUSING MARKETNORTH ATLANTA HOUSING MARKETNORTH ATLANTA HOUSING MARKETNORTH ATLANTA HOUSING MARKET

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

2Q97 4Q97 2Q98 4Q98 2Q99 4Q99 2Q00 4Q00 2Q01 4Q01 2Q02 4Q02 2Q03

Quarterly Starts Quarterly Closings


-

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

2Q97 4Q97 2Q98 4Q98 2Q99 4Q99 2Q00 4Q00 2Q01 4Q01 2Q02 4Q02 2Q03

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

Finished Vacant Under Construction Housing MOS


0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

$0-$99,000

$100,000-$149,999

$150,000-$199,999

$200,000-$249,999

$250,000-$299,999

$300,000-$399,999

$400,000-$499,999

$500,000- UP

HOUSING INVENTORY ANNUAL CLOSINGS


0 50 100 150 200 250 300

Bridge Mill

Bentwater

Hamilton Mill

Weatherstone

Brookshire

Hairston Forrest

Holly Mill

Glencrest

Woodlands,The

Chestnut Lake

TH/ Covington Station

Lantern Ridge

Cold Water Creek

Crabapple Point

Rogers Crossing

Chadsworth

Blackstone

Ivey Pointe

Windward Village

Bethelview

TH/ Grovemont

TH/ Reynolds Walk

TH/ Arbor Gate

Shiloh Valley

Hawthorn Glen

South Atlanta Housing Market

SOUTH ATLANTA HOUSING MARKETSOUTH ATLANTA HOUSING MARKETSOUTH ATLANTA HOUSING MARKETSOUTH ATLANTA HOUSING MARKET

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

2Q97 4Q97 2Q98 4Q98 2Q99 4Q99 2Q00 4Q00 2Q01 4Q01 2Q02 4Q02 2Q03

Quarterly Starts Quarterly Closings


-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

2Q97 4Q97 2Q98 4Q98 2Q99 4Q99 2Q00 4Q00 2Q01 4Q01 2Q02 4Q02 2Q03

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

10.0



0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

$0-$99,000

$100,000-$149,999

$150,000-$199,999

$200,000-$249,999

$250,000-$299,999

$300,000-$399,999

$400,000-$499,999

$500,000- UP

HOUSING INVENTORY ANNUAL CLOSINGS


0 50 100 150 200 250 300

Eagles Landing

Summer Grove

Annewakee Trails

Mirror Lake

Walden Park

Natures Point

Sapphire Creek

Monarch Village

City Square

Sage Creek Estates

Brentwood Park

Sable Chase

Simpson's Mill Plantation

Tara/ Village@

Amhurst

Ellington

Arbor Glen

Olde Salem Township

Anneewakee Falls

Cedar Grove

Southampton

Magnolia Walk

Kensington Pointe

Avalon

Trelawny


0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0

Fulton (North)

Cherokee

Forsyth

Gwinnett

Cobb

Dekalb

Paulding

Hall

Clayton

Douglas

Fayette

Fulton (South)

Henry

Rockdale

Coweta

Newton

Housing Inventory MOS

Months of Supply


0.0 5.0 10.0 15.0 20.0 25.0 30.0

Fulton (North)

Cherokee

Forsyth

Gwinnett

Cobb

Dekalb

Paulding

Hall

Clayton

Douglas

Fayette

Fulton (South)

Henry

Rockdale

Coweta

Newton

VDL MOS

Months of Supply


-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

Fult

on (

Nort

h)

Cher

oke

e

Fors

yth

Gw

innet

t

Cobb

Dek

alb

Pau

ldin

g

Hal

l

Cla

yton

Dougla

s

Faye

tte

Fult

on (

South

)

Hen

ry

Rock

dal

e

Cow

eta

New

ton

ANNUAL STARTS ANNUAL CLOSINGS

Atlanta Townhouse Market

ATLANTA TOWNHOUSE MARKETATLANTA TOWNHOUSE MARKETATLANTA TOWNHOUSE MARKETATLANTA TOWNHOUSE MARKET

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

1Q02 3Q02 1Q03

Annual Starts Annual Closings


-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

1Q02 3Q02 1Q03

0.0

2.0

4.0

6.0

8.0

10.0

12.0



0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0%

Fulton (North)

Cherokee

Forsyth

Gwinnett

Cobb

Dekalb

Paulding

Hall

Clayton

Douglas

Fayette

Fulton (South)

Henry

Rockdale

Coweta

Newton

HousingInventory

AnnualClosings


0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

$0-$99,000

$100,000-$149,999

$150,000-$199,999

$200,000-$249,999

$250,000-$299,999

$300,000-$399,999

$400,000-$499,999

$500,000 -UP



-

200

400

600

800

1,000

1,200

1,400

1,600

Fult

on (

Nort

h)

Cher

oke

e

Fors

yth

Gw

innet

t

Cobb

Dek

alb

Pau

ldin

g

Hal

l

Cla

yton

Dougla

s

Faye

tte

Fult

on (

South

)

Hen

ry

Rock

dal

e

Cow

eta

New

ton



0 20 40 60 80 100 120 140 160 180

Glencrest

Weatherstone

TH/ Covington Station

Chadsworth

TH/ Grovemont

TH/ Reynolds Walk

TH/ Arbor Gate

TH/ Waldrop Station

TH/ Fairington Station

TH/ Dillard Crossing

Lantern Ridge

TH/ Fox Creek

TH/ Aladdin South

TH/ Stonecrest Heights

TH/ Mill Town Lofts

TH/ Callaway Crossing

TH/ Hutchinson Trace

TH/ Lake Ridge,Reserve@

TH/ Vinings,Creekside @

TH/ Camden Forrest

Windward Village

TH/ Austin Park

TH/ Garrison Square

TH/ Ridgewalk,Magnolias@

TH/ Millgate Crossing

ATLANTA RESALE MARKET JUNE ATLANTA RESALE MARKET JUNE 20032003ATLANTA RESALE MARKET JUNE ATLANTA RESALE MARKET JUNE 20032003Single Family Detached

Price Range <100 100 to

119120 to

139140 to

159 160 to

179180 to

199200 to

224225 to

249250 to

299300 to

499500 to

749750 to

999

1MM to

2MM 2MM+ Totals%CHG

Y/Y

# Homes Sold - 12 mths 2,442 3,029 5,443 5,165 4,149 2,794 2,580 2,338 3,060 4,796 991 265 193 23 37,268 4.80%

Current Inventory 1,365 1,633 3,187 3,145 2,584 1,923 1,538 1,676 2,362 4,059 1,368 535 479 153 26,007 19.70%

Months of Inventory 6.7 6.5 7.0 7.3 7.5 8.3 7.2 8.6 9.3 10.2 16.6 24.2 29.8 79.8 8.4 15.10%

Single Family Condo/Townhome


119120 to

139140 to

159 160 to

179180 to

199200 to

224225 to

249250 to

299300 to

499500 to

749750 to

999

1MM to

2MM 2MM+ Totals%CHG

Y/Y

# Homes Sold - 12 mths 659 593 726 456 413 272 205 185 217 153 29 12 4 0 3,924 -7.80%

Current Inventory 632 558 627 452 386 313 221 271 271 329 68 37 25 2 4,192 29.40%

Months of Inventory 11.5 11.3 10.4 11.9 11.2 13.8 12.9 17.6 15.0 25.8 28.1 37.0 75.0 ##### 12.8 40.70%

Single Family Totals


119120 to

139140 to

159 160 to

179180 to

199200 to

224225 to

249250 to

299300 to

499500 to

749750 to

999

1MM to

2MM 2MM+ Totals%CHG

Y/Y# Homes Sold - 12 mths3,101 3,622 6,169 5,621 4,562 3,066 2,785 2,523 3,277 4,949 1,020 277 197 23 41,192 3.40%Current Inventory 1997 2191 3814 3597 2970 2236 1759 1947 2633 4388 1436 572 504 155 30,199 20.90%Months of Inventory 7.7 7.3 7.4 7.7 7.8 8.8 7.6 9.3 9.6 10.6 16.9 24.8 30.7 80.9 8.8 17.30%

Source: FMLS

…now you know

New Housing Market Review. THE COMPANY 28 year history and experience Serving 31 markets nationwide Leading provider of primary and secondary market information.

Documents

atlanta townhouse market

household income slide

atlanta resale market

secondary market information

housing affordability

finished research

field research personnel

metrostudy timeline