Homes Sold Median Price

Home , Rhodes Ranch

SalesTraq™

Las Vegas Nevada Housing Report

NEW HOMES EXISTING HOMES

Closings by Month Closings by Month

Closings by Product Type Closings by Price Segments

Closings by Price Segment Closings by Zip Code

Closings by Builder Bank Repossessions

Closings by MPC REO (Bank Owned) Closings

Closings by Subdivision Short Sale Closings

Closings by Zip Code Auction (3rd Party) Closings

Permits by Month Non‐Distressed Closings

Permits by MPC PLUS: Permits by Builder Assorted Charts and Graphs Permits by Subdivision

Permits by Zip Code

DATE Total Closings Median Price Avg $/Sq Ft Q1 07 5,158 $322,379 $217.16 Q2 5,089 $320,498 $280.54 Q3 4,961 $329,445 $245.35 Q4 4,005 $285,690 $177.56 Q1 08 2,761 $278,279 $215.57 Q2 2,684 $282,424 $270.86 Q3 2,454 $260,112 $186.77 Q4 2,035 $243,801 $143.31 Q1 09 1,080 $222,330 $131.68 Q2 1,191 $212,714 $118.88 Q3 1,289 $210,289 $128.28 Q4 1,638 $204,684 $115.65 Q1 10 1,106 $206,138 $140.67 Q2 1,986 $195,219 $181.96 Q3 1,272 $213,849 $192.84 Q4 1,076 $211,307 $134.33 Q1 11 776 $198,913 $143.74 Q2 893 $195,165 $113.43 Q3 1,089 $201,326 $109.82 Includes all structure types: SFR, TH/Condo, Mid Rise, Hi Rise

Las Vegas Metro Market $350,000 7,000

$300,000 6,000

$250,000 5,000

Price $200,000 4,000

Closed

$150,000 3,000 Units

Median $100,000 2,000

$50,000 1,000

$0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 07 08 09 10 11 Includes Las Vegas, North Las Vegas, Henderson, Portions of unincorporated Clark county.

DATE Total Closings APTCV HIRISE MIDRISE SFR THCN Q1 07 5,158 545 432 164 3,433 584 Q2 5,089 522 692 79 3,270 526 Q3 4,961 322 773 217 3,245 404 Q4 4,005 167 145 88 3,274 331 Q1 08 2,761 164 315 37 1,941 304 Q2 2,684 84 481 14 1,852 253 Q3 2,454 75 181 4 1,972 222 Q4 2,035 67 53 4 1,744 167 Q1 09 1,080 29 39 0 869 143 Q2 1,191 17 48 0 974 152 Q3 1,289 27 69 2 1,059 132 Q4 1,638 18 58 15 1,383 164 Q1 10 1,106 10 86 11 879 120 Q2 1,986 1 251 6 1,524 204 Q3 1,272 0 215 12 964 81 Q4 1,076 0 72 6 926 72 Q1 11 776 0 63 0 640 73 Q2 893 0 34 0 816 43 Q3 1,089 12 50 10 983 34 Includes all structure types: SFR, TH/Condo, Mid Rise, Hi Rise

Las Vegas Metro Market 6,000 Total Closings 5,000 SFR THCN 4,000 HIRISE

Closed 3,000 MIDRISE

APTCV 2,000 Units

1,000

0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 07 08 09 10 11 Includes Las Vegas, North Las Vegas, Henderson, Portions of unincorporated Clark county.

Q3 2011 Las Vegas Housing Summary Page 2 Copyright©SalesTraq™ 2011 Closings by Price Segment 10/30/2011 New Home Closings Report by Larry E. Murphy SalesTraqTM Filter: Sale Date between 201107 AND 201109,Area=E,Area=HN,Area=N,Area=NW,Area=S,Area=SW www.salestraq.com

Low High APT/CV HI RISE LOT MID RISE SFR TH/CN ALL $0 - $99,999 7 0 0 0 10 2 19 $100,000 - $124,999 5 0 0 0 44 3 52 $125,000 - $149,999 0 0 0 0 147 18 165 $150,000 - $174,999 0 3 1 0 160 5 169 $175,000 - $199,999 0 4 0 0 133 3 140 $200,000 - $224,999 0 5 0 0 120 1 126 $225,000 - $249,999 0 6 0 0 82 0 88 $250,000 - $274,999 0 12 0 1 63 0 76 $275,000 - $299,999 0 10 2 0 51 0 63 $300,000 - $324,999 0 2 0 0 45 0 47 $325,000 - $349,999 0 1 0 1 36 0 38 $350,000 - $374,999 0 2 0 0 28 0 30 $375,000 - $399,999 0 1 0 2 21 0 24 $400,000 - $424,999 0 0 0 1 15 1 17 $425,000 - $449,999 0 0 0 0 7 0 7 $450,000 - $474,999 0 0 0 3 7 0 10 $475,000 - $499,999 0 0 0 1 8 0 9 $500,000 - $524,999 0 0 0 1 2 0 3 $525,000 - $549,999 0 0 0 0 0 0 0 $550,000 - $574,999 0 1 0 0 0 0 1 $575,000 - $599,999 0 0 0 0 0 0 0 $600,000 - $624,999 0 1 0 0 0 0 1 $625,000 - $649,999 0 0 0 0 0 0 0 $650,000 - $674,999 0 0 0 0 0 0 0 $675,000 - $699,999 0 0 0 0 0 1 1 $700,000 - $724,999 0 0 0 0 0 0 0 $725,000 - $749,999 0 0 0 0 0 0 0 $750,000 - $774,999 0 0 0 0 0 0 0 $775,000 - $799,999 0 0 0 0 1 0 1 $800,000 - $824,999 0 0 0 0 0 0 0 $825,000 - $849,999 0 0 0 0 0 0 0 $850,000 - $874,999 0 0 0 0 0 0 0 $875,000 - $899,999 0 0 0 0 0 0 0 $900,000 - $924,999 0 0 0 0 0 0 0 $925,000 - $949,999 0 0 0 0 0 0 0 $950,000 - $974,999 0 0 0 0 0 0 0 $975,000 - $999,999 0 0 0 0 0 0 0 $1,000,000 - $1,499,999 0 1 0 0 2 0 3 $1,500,000 - $1,999,999 0 1 0 0 1 0 2 $2,000,000 - $2,499,999 0 0 0 0 0 0 0 $2,500,000 - $999,999,999 0 0 0 0 0 0 0

TOTALS 12 50 3 10 983 34 1,092 MEDIAN PRICE $86,636 $271,500 $279,480 $432,926 $199,735 $140,000 $200,245 AVERAGE PRICE $81,669 $319,763 $239,640 $415,470 $223,314 $166,449 $226,207

$750,000 19,000 New Homes 5,000 New $725,000 in 2007 Home Sales in $700,000 Median Price: 2010 $675,000 $314,000 Median Price: $206,000 $650,000 $625,000 $600,000 $575,000 $550,000 $525,000 $500,000 2010 $475,000 $450,000 2007 $425,000 $400,000 $375,000 $350,000 $325,000 $300,000 $275,000 $250,000 $225,000 $200,000 $175,000 $150,000 $125,000 $100,000 $0

3,000 2,000 1,000 0 1,000 2,000 3,000

Includes Las Vegas, North Las Vegas, Henderson, Portions of unincorporated Clark county. Includes all structure types: SFR, TH/Condo, Mid Rise, Hi Rise Las Vegas Metro Builders Q3 2011

BUILDER HOMES AVG PRICE ADAVEN HOMES 6 $143,005 AMERICAN WEST 44 $315,436 ASTORIA 19 $116,448 BEAZER 61 $155,289 BIVINS 1 $171,594 BLUE MARBLE DEV 2 $335,161 D R HORTON 155 $262,846 DEL WEBB 18 $250,498 DESERT OAK 1 $481,978 DESERT WIND 1 $196,242 DISCOVERY 7 $335,295 DUNHILL HOMES 40 $262,740 EHB 1 $1,675,000 FIFIELD COMPANIES 35 $255,324 HARMONY 51 $206,699 KB HOME 133 $169,181 KIMBALL HILL 7 $169,341 LENNAR 105 $172,678 MERITAGE 29 $214,116 MET HOMES 2 $122,500 MGM MIRAGE 2 $865,000 NEVADA HOMES GROUP 3 $179,967 PACIFIC SOUTHWEST 1 $1,075,000 PALM CREEK HOLDINGS 2 $120,000 PARDEE 53 $247,955 PECOS & MCLEOD DEV 1 $165,000 PINNACLE HOMES 4 $175,251 PULTE 53 $258,883 R/S DEVELOPMENT 1 $219,990 RHODES 13 $274,126 RICHMOND AMERICAN 67 $188,049 RYLAND 34 $201,055 SASSON HALLIER 8 $316,227 SHEA HOMES 12 $238,990 STANDARD PACIFIC 2 $203,110 STORYBOOK 4 $113,733 TOLL BROTHERS 15 $302,200 TRUMP 3 $240,000 TURNBERRY 1 $397,000 URBAN LOFTS 2 $173,500 WARMINGTON 7 $152,132 WESTMARK 9 $433,300 WILLIAM LYON 20 $221,360 WOODSIDE 31 $246,607 COUNT: 44 TOTAL: 1066 AVG: $227,780

Includes all structure types: SFR, TH/Condo, Mid Rise, Hi Rise

BUILDER HOMES AVG PRICE D R HORTON 155 $262,846 KB HOME 133 $169,181 LENNAR 105 $172,678 RICHMOND AMERICAN 67 $188,049 BEAZER 61 $155,289 PARDEE 53 $247,955 PULTE 53 $258,883 HARMONY 51 $206,699 AMERICAN WEST 44 $315,436 DUNHILL HOMES 40 $262,740 FIFIELD COMPANIES 35 $255,324 RYLAND 34 $201,055 WOODSIDE 31 $246,607 MERITAGE 29 $214,116 WILLIAM LYON 20 $221,360 ASTORIA 19 $116,448 DEL WEBB 18 $250,498 TOLL BROTHERS 15 $302,200 RHODES 13 $274,126 SHEA HOMES 12 $238,990 WESTMARK 9 $433,300 SASSON HALLIER 8 $316,227 DISCOVERY 7 $335,295 KIMBALL HILL 7 $169,341 WARMINGTON 7 $152,132 ADAVEN HOMES 6 $143,005 PINNACLE HOMES 4 $175,251 STORYBOOK 4 $113,733 NEVADA HOMES GROUP 3 $179,967 TRUMP 3 $240,000 BLUE MARBLE DEV 2 $335,161 MET HOMES 2 $122,500 MGM MIRAGE 2 $865,000 PALM CREEK HOLDINGS 2 $120,000 STANDARD PACIFIC 2 $203,110 URBAN LOFTS 2 $173,500 BIVINS 1 $171,594 DESERT OAK 1 $481,978 DESERT WIND 1 $196,242 EHB 1 $1,675,000 PACIFIC SOUTHWEST 1 $1,075,000 PECOS & MCLEOD DEV 1 $165,000 R/S DEVELOPMENT 1 $219,990 TURNBERRY 1 $397,000 COUNT: 44 TOTAL: 1066 AVG: $227,780

Includes all structure types: SFR, TH/Condo, Mid Rise, Hi Rise

BUILDER HOMES AVG PRICE EHB 1 $1,675,000 PACIFIC SOUTHWEST 1 $1,075,000 MGM MIRAGE 2 $865,000 DESERT OAK 1 $481,978 WESTMARK 9 $433,300 TURNBERRY 1 $397,000 DISCOVERY 7 $335,295 BLUE MARBLE DEV 2 $335,161 SASSON HALLIER 8 $316,227 AMERICAN WEST 44 $315,436 TOLL BROTHERS 15 $302,200 RHODES 13 $274,126 D R HORTON 155 $262,846 DUNHILL HOMES 40 $262,740 PULTE 53 $258,883 FIFIELD COMPANIES 35 $255,324 DEL WEBB 18 $250,498 PARDEE 53 $247,955 WOODSIDE 31 $246,607 TRUMP 3 $240,000 SHEA HOMES 12 $238,990 WILLIAM LYON 20 $221,360 R/S DEVELOPMENT 1 $219,990 MERITAGE 29 $214,116 HARMONY 51 $206,699 STANDARD PACIFIC 2 $203,110 RYLAND 34 $201,055 DESERT WIND 1 $196,242 RICHMOND AMERICAN 67 $188,049 NEVADA HOMES GROUP 3 $179,967 PINNACLE HOMES 4 $175,251 URBAN LOFTS 2 $173,500 LENNAR 105 $172,678 BIVINS 1 $171,594 KIMBALL HILL 7 $169,341 KB HOME 133 $169,181 PECOS & MCLEOD DEV 1 $165,000 BEAZER 61 $155,289 WARMINGTON 7 $152,132 ADAVEN HOMES 6 $143,005 MET HOMES 2 $122,500 PALM CREEK HOLDINGS 2 $120,000 ASTORIA 19 $116,448 STORYBOOK 4 $113,733 COUNT: 44 TOTAL: 1066 AVG: $227,780

Includes all structure types: SFR, TH/Condo, Mid Rise, Hi Rise

Q3 2011 Las Vegas Housing Summary Page 7 Copyright©SalesTraq™ 2011 Closings by Planned Community 11/01/2011 New Home Closings Report by Larry E. Murphy SalesTraqTM Filter: Sale Date between 201107 AND 201109,Area=E,Area=HN,Area=N,Area=NW,Area=S,Area=SW www.salestraq.com

Avg Closings Planned Community Number Sold Per Month Median Price Average Price Average Lot Size ALIANTE 13 4 $268,000 $263,449 7,606 ANTHEM 8 3 $255,000 $255,384 6,897 ARDIENTE 12 4 $243,466 $238,990 5,554 BUFFALO RANCH 30 10 $229,372 $256,227 6,432 CENTENNIAL HILLS 4 1 $175,475 $175,032 4,029 CENTENNIAL RANCH 2 1 $115,500 $115,500 2,178 CENTENNIAL SPRINGS 8 3 $148,222 $148,796 2,886 CITY CENTER 2 1 $865,000 $865,000 0 CORONADO RANCH 24 8 $298,405 $316,570 5,082 GREEN VALLEY 4 2 $348,188 $339,430 10,346 HIGHLANDS RANCH 14 5 $297,178 $307,267 4,698 HOLLYWOOD RANCH 2 2 $90,700 $90,700 1,089 INSPIRADA 26 9 $203,867 $208,253 3,703 LAKE LAS VEGAS 10 3 $310,072 $331,781 7,754 LAS VEGAS COUNTRY CLUB 12 4 $86,636 $81,669 0 LOG CABIN RANCH 2 2 $431,733 $431,733 21,127 MACDONALD HIGHLANDS 1 1 $795,000 $795,000 11,326 MADEIRA CANYON 27 9 $312,650 $308,189 6,227 MCDONALD RANCH 1 1 $1,006,000 $1,006,000 8,276 MOUNTAINS EDGE 97 32 $185,244 $201,517 4,522 NEVADA TRAILS 2 1 $352,250 $352,250 6,970 NONE 529 176 $177,400 $207,836 6,135 PROVIDENCE 99 33 $188,990 $193,227 4,950 QUEENSRIDGE 1 1 $1,675,000 $1,675,000 0 RHODES RANCH 32 11 $288,029 $290,289 5,268 SEVEN HILLS 3 2 $289,440 $352,973 15,391 SILVERADO RANCH 6 2 $325,444 $329,961 4,501 SOUTHERN HIGHLANDS 3 2 $159,663 $462,285 7,115 STALLION MOUNTAIN 17 6 $160,000 $158,671 5,996 SUMMERLIN 56 19 $293,129 $312,034 5,852 TUSCANY 21 7 $232,996 $227,810 5,684 WESTON HILLS 24 8 $140,000 $139,023 4,356

1,092 364 $200,245 $226,207 5,733

Q3 2011 Las Vegas Housing Summary Page 8 Copyright©SalesTraq™ 2011 Closings by Subdivision 11/01/2011 New Home Closings Report by Larry E. Murphy SalesTraqTM Filter: Sale Date between 201107 AND 201109,Area=E,Area=HN,Area=N,Area=NW,Area=S,Area=SW www.salestraq.com

Avg Average Closings Avg Closing Subdivision Builder Area Planned Community Lot Size Closings Per Month Price "COMMONS,THE" WILLIAM LYON N NONE 7,623 2 0.67 $232,000 ALLORA AT DAVYN RIDGE RYLAND N NONE 4,247 4 1.33 $140,970 ALLURE FIFIELD COMPANIES S NONE 0 30 15.00 $258,017 ALLURE FIFIELD COMPANIES SW NONE 0 5 5.00 $239,165 ALPIAN MEADOWS R/S DEVELOPMENT SW MOUNTAINS EDGE 4,792 1 1.00 $219,990 ALPINE RIDGE ESTATES D R HORTON NW NONE 15,173 6 2.00 $344,441 AMADO TERRAZA PULTE SW SUMMERLIN 5,714 17 5.67 $284,228 ANTHEM HIGHLANDS PULTE HN ANTHEM 8,930 2 1.00 $255,398 ANTHEM HIGHLANDS SERIES 4 PULTE HN ANTHEM 11,761 1 1.00 $255,000 ARBOR RIDGE LENNAR NW PROVIDENCE 5,772 8 2.67 $217,586 ASHWOOD PARDEE SW NEVADA TRAILS 6,970 2 1.00 $352,250 AUBURN RYLAND NW PROVIDENCE 3,703 2 2.00 $220,320 AUTUMN ESTATES D R HORTON NW NONE 19,166 3 1.00 $379,970 AVELLINO AT TERAMINA KIMBALL HILL HN NONE 2,614 2 2.00 $170,362 AVELLINO RIDGE KB HOME HN NONE 2,697 21 7.00 $156,815 AVENUES AT TAPESTRY ASTORIA NW NONE 1,742 3 3.00 $104,000 BARCELONA CUSTOM HN LAKE LAS VEGAS 17,860 1 1.00 $110,000 BARCELONA AT THE PASEOS WOODSIDE NW SUMMERLIN 8,799 5 1.67 $399,023 BAVARIA ESTATES D R HORTON NW NONE 9,365 4 2.00 $275,296 BAVARIA MANOR D R HORTON NW NONE 8,373 9 3.00 $251,019 BEDFORD ESTATES D R HORTON NW NONE 20,038 2 2.00 $414,658 RICHMOND SOUTHERN BELCERRO II SW 3,049 2 2.00 $155,927 AMERICAN HIGHLANDS BELLA FIORE BY HARMONY HARMONY HN LAKE LAS VEGAS 9,293 3 1.50 $373,468 RICHMOND BELLA LAGO SW NONE 3,223 5 2.50 $170,940 AMERICAN BRADFORD RYLAND NW PROVIDENCE 4,138 2 2.00 $224,589 BRECKENRIDGE BY DISCOVERY HOMES DISCOVERY SW MOUNTAINS EDGE 6,098 2 1.00 $315,651 BRIGHT ANGEL D R HORTON NW NONE 18,731 6 3.00 $366,137 BRIGHTON DUNHILL HOMES SW RHODES RANCH 5,460 15 7.50 $318,448 BRIGHTON CARLISLE KB HOME NW PROVIDENCE 4,901 12 6.00 $163,190 BRIGHTON CARLISLE RYLAND NW PROVIDENCE 6,098 1 1.00 $272,440 BROOKHAVEN BY KB HOME KB HOME NW NONE 2,681 13 4.33 $134,108 BROOKLINE MERITAGE NW PROVIDENCE 4,574 8 8.00 $219,839 BROOKSTONE AT PROVIDENCE WOODSIDE NW PROVIDENCE 5,103 14 4.67 $218,891 CACTUS HILLS TWILIGHT D R HORTON SW NONE 3,920 1 1.00 $190,000 CANYON FALLS HARMONY SW NONE 20,038 2 0.67 $461,965 CANYON FALLS ESTATES HARMONY SW NONE 17,860 1 1.00 $511,108 CANYON SPRINGS LENNAR N NONE 6,708 10 3.33 $177,402 CANYONS EDGE CUSTOM HN MCDONALD RANCH 8,276 1 1.00 $1,006,000 CAPISTRANO HARMONY N NONE 2,614 1 1.00 $135,505 CAPISTRANO AT VISTA CIELO HARMONY N NONE 3,049 1 1.00 $136,033 CASCADE AT MOUNTAINS EDGE DISCOVERY SW MOUNTAINS EDGE 7,405 2 2.00 $343,288 CASCADE BY DISCOVERY HOMES DISCOVERY SW MOUNTAINS EDGE 8,131 3 3.00 $343,062 CASTLEBAY AMERICAN WEST SW HIGHLANDS RANCH 4,356 1 1.00 $340,933 CATANIA RYLAND HN NONE 3,111 7 2.33 $182,084 CENTENNIAL CROSSING RYLAND N NONE 3,485 1 1.00 $169,500 Q3 2011 Las Vegas Housing Summary Page 9 Copyright©SalesTraq™ 2011 CENTENNIAL CROSSINGS BY RYLAND RYLAND N NONE 3,920 1 1.00 $163,500 CENTENNIAL ESTATES D R HORTON NW NONE 16,466 5 2.50 $325,436 CENTENNIAL MESA BEAZER NW NONE 6,534 1 1.00 $218,000 RICHMOND CHESTNUT HILL AT PROVIDENCE NW PROVIDENCE 4,574 2 1.00 $202,789 AMERICAN RICHMOND CHESTUNUT HILL AT PROVIDENCE NW PROVIDENCE 5,663 1 1.00 $207,095 AMERICAN CIMARRON HIGHLANDS D R HORTON SW NONE 21,635 3 1.50 $428,029 CITY CENTER MANDARIN ORIENTAL MGM MIRAGE S CITY CENTER 0 1 1.00 $1,173,000 CITY CENTER VEER TOWERS MGM MIRAGE S CITY CENTER 0 1 1.00 $557,000 CITY HOMES AT INSPIRADA MERITAGE HN INSPIRADA 5,227 6 2.00 $206,135 CLAREMONT AT NORTHERN TERRACE WARMINGTON NW PROVIDENCE 3,267 2 2.00 $131,338 CLUB AT MADEIRA CANYON DEL WEBB HN MADEIRA CANYON 9,220 6 2.00 $449,421 COLDWATER RANCH LENNAR N NONE 7,841 2 2.00 $160,495 COLLECTION 40 RHODES SW RHODES RANCH 5,663 5 5.00 $314,755 HABITAT FOR COLLEGE HEIGHTS N NONE 6,098 1 1.00 $84,000 HUMANITY CONCORD MERITAGE NW PROVIDENCE 4,574 6 6.00 $175,273 CONOUGH ESTATES D R HORTON NW NONE 18,731 1 1.00 $311,554 COPPER CREEK BY RICHMOND RICHMOND E NONE 3,485 1 1.00 $150,600 AMERICAN AMERICAN RICHMOND COPPER CREEK ESTATES E NONE 3,920 2 2.00 $143,738 AMERICAN COPPERHEAD CANYONS BY RICHMOND SW NONE 3,920 1 1.00 $170,741 RICHMOND AMERICAN AMERICAN CORAZON MET HOMES N NONE 4,792 1 1.00 $120,000 CORONADO HILLS LENNAR HN NONE 6,970 2 1.00 $371,850 COTTAGES AT CENTENNIAL RANCH WILLIAM LYON N CENTENNIAL RANCH 2,178 2 1.00 $115,500 CRESTONE RYLAND SW MOUNTAINS EDGE 6,389 3 1.50 $242,909 CROSSING D R HORTON SW BUFFALO RANCH 6,044 24 8.00 $236,451 CROSSINGS WILLIAM LYON NW NONE 11,848 5 2.50 $302,753 NEVADA HOMES DAY DAWN FUSION NW NONE 4,356 2 2.00 $194,950 GROUP NEVADA HOMES DAY DAWN VISTA NW NONE 3,920 1 1.00 $150,000 GROUP DESERT RIDGE STANDARD PACIFIC N NONE 6,098 2 2.00 $203,110 DIAMOND POINT LENNAR N NONE 6,461 6 2.00 $203,017 RICHMOND EMERSON AT PROVIDENCE NW PROVIDENCE 2,614 1 1.00 $121,186 AMERICAN FAIRMONT AMERICAN WEST SW HIGHLANDS RANCH 3,485 1 1.00 $330,276 RICHMOND FALCON RIDGE N NONE 6,534 3 3.00 $175,365 AMERICAN FALCON RIDGE BY RICHMOND RICHMOND N NONE 7,405 1 1.00 $165,950 AMERICAN AMERICAN FIELDS ASTORIA N ALIANTE 5,227 1 1.00 $212,995 FIELDS AT ALIANTE HARMONY N ALIANTE 6,882 5 2.50 $219,960 FIRST LIGHT AT HOLLYWOOD RANCH D R HORTON E NONE 871 1 1.00 $93,000 RICHMOND FOXBOROUGH SW NONE 2,759 3 1.50 $150,094 AMERICAN FREMONT STREET LOFTS URBAN LOFTS E NONE 1,742 2 1.00 $173,500 GLENBROOK ESTATES D R HORTON S NONE 12,197 5 1.67 $322,167 GLENBROOK PONDEROSA D R HORTON S NONE 19,428 5 2.50 $392,012 GLENGARRY KB HOME HN ANTHEM 3,920 3 1.50 $202,320 GREAT FALLS MERITAGE SW MOUNTAINS EDGE 3,920 1 1.00 $198,267 HARMONY POINTE HARMONY N NONE 4,743 9 3.00 $198,534 HARMONY SPRINGS HARMONY NW CENTENNIAL SPRINGS 3,049 3 1.50 $146,113 Q3 2011 Las Vegas Housing Summary Page 10 Copyright©SalesTraq™ 2011 HERMOSA RIDGE KB HOME NW NONE 4,356 3 1.00 $161,936 RICHMOND HIGHGATE AT PROVIDENCE NW PROVIDENCE 9,670 5 1.67 $267,154 AMERICAN HILLSIDE ASTORIA NW NONE 2,178 5 5.00 $140,877 RICHMOND HILLSIDE NW NONE 3,194 3 1.50 $136,556 AMERICAN HOLLYWOOD RANCH HIGH NOON D R HORTON E HOLLYWOOD RANCH 1,089 2 2.00 $90,700 INSPIRADA MATISSE KB HOME HN INSPIRADA 3,920 2 2.00 $194,087 INSPIRADA RENOIR KB HOME HN INSPIRADA 3,582 9 3.00 $197,344 IRONS DUNHILL HOMES SW RHODES RANCH 5,576 5 2.50 $266,807 IRONS RHODES SW RHODES RANCH 6,970 1 1.00 $270,250 JASMINE BY RYLAND RYLAND HN NONE 2,178 2 1.00 $150,323 KARDELO AT DAVYN RIDGE RYLAND N NONE 8,567 3 1.50 $198,623 KENSINGTON BY KIMBALL HILL KIMBALL HILL NW PROVIDENCE 4,247 4 4.00 $167,970 KINGSBRIDGE AMERICAN WEST SW CORONADO RANCH 3,049 2 2.00 $230,325 KINGWOOD AT SUMMERLIN KB HOME NW SUMMERLIN 6,186 5 2.50 $289,716 KINGWOOD KNOLL RYLAND NW SUMMERLIN 5,445 4 4.00 $287,349 LA LUNA AT TUSCANY RHODES HN TUSCANY 4,356 1 1.00 $145,999 LA MADRE MET HOMES N NONE 6,098 1 1.00 $125,000 LA PUERTA PARDEE SW MOUNTAINS EDGE 5,227 2 2.00 $246,024 LA VENTINA D R HORTON NW NONE 9,910 4 2.00 $274,517 RICHMOND LADERA CANYON SW SUMMERLIN 3,920 1 1.00 $270,925 AMERICAN LADERA TERRACE HARMONY SW SUMMERLIN 3,920 1 1.00 $260,735 LADERA TERRACE BY HARMONY HARMONY SW SUMMERLIN 4,356 2 1.00 $268,010 LAGUNA AT VISTA CIELO HARMONY N NONE 4,501 3 1.50 $147,019 LAS ROSAS HARMONY E NONE 2,614 1 1.00 $100,355 LAVENTINA D R HORTON NW NONE 8,364 5 1.67 $292,685 LEGENDS AT LOG CABIN D R HORTON NW LOG CABIN RANCH 21,127 2 2.00 $431,733 LEXINGTON AMERICAN WEST SW HIGHLANDS RANCH 4,828 12 4.00 $302,544 LEXINGTON BY LENNAR LENNAR NW NONE 2,777 8 2.67 $141,071 LONE MOUNTAIN ESTATES D R HORTON NW NONE 19,166 2 2.00 $402,184 LONE MOUNTAIN RANCH ESTATES CUSTOM LOT NW NONE 20,909 1 1.00 $150,000 LOS LIBROS STORYBOOK E NONE 4,792 4 1.33 $113,733 MACDONALD MACDONALD HIGHLANDS TOLL BROTHERS HN 11,326 1 1.00 $795,000 HIGHLANDS MADEIRA CANYON ANDALUCIA PULTE HN MADEIRA CANYON 4,443 5 1.67 $255,040 MADEIRA CANYON ARAGON PULTE HN MADEIRA CANYON 5,227 1 1.00 $205,096 MADEIRA CANYON BARCELONA PULTE HN MADEIRA CANYON 6,389 6 2.00 $311,436 MADEIRA CANYON MORENA PULTE HN MADEIRA CANYON 4,356 5 1.67 $216,629 MADEIRA CANYON NAVARRA PULTE HN MADEIRA CANYON 7,187 2 1.00 $249,255 MADEIRA CANYON VALENCIA PULTE HN MADEIRA CANYON 5,445 2 2.00 $347,000 MADISON COLONY WOODSIDE NW PROVIDENCE 3,398 5 2.50 $159,652 MAGIC VIEW ESTATES BIVINS HN NONE 6,534 1 1.00 $171,594 MANCHESTER PARK KB HOME NW PROVIDENCE 4,138 4 1.33 $152,600 MANCHESTER PARK COVENTRY KB HOME NW PROVIDENCE 3,746 5 2.50 $144,133 MANDOLIN WARMINGTON SW MOUNTAINS EDGE 2,178 3 3.00 $151,042 MANDOLIN BY LENNAR LENNAR SW MOUNTAINS EDGE 2,178 2 1.00 $148,245 MAPLEWOOD SPRINGS PINNACLE HOMES SW NONE 3,485 2 0.67 $187,028 MARAVILLA COURTS KB HOME SW MOUNTAINS EDGE 2,759 3 1.50 $149,245 MARAVILLA RIDGES KB HOME SW MOUNTAINS EDGE 3,165 15 5.00 $150,218 MARQUIS MARQUIS HN SEVEN HILLS 13,504 2 2.00 $284,460 MAVERICK EQUESTRIAN ESTATES CUSTOM LOT NW NONE 20,255 2 2.00 $403,000 MELANI AT TUSCANY DUNHILL HOMES HN TUSCANY 6,534 1 1.00 $252,613 MELANI AT TUSCANY RHODES HN TUSCANY 6,534 2 2.00 $267,352 Q3 2011 Las Vegas Housing Summary Page 11 Copyright©SalesTraq™ 2011 MESA AT WESTON HILLS BEAZER HN NONE 5,227 2 2.00 $218,500 MESA AT WESTON HILLS BEAZER HN WESTON HILLS 10,454 1 1.00 $210,056 MIRA VILLA SUMMERLIN WESTMARK NW SUMMERLIN 0 9 4.50 $433,300 MIRASOL TOLL BROTHERS SW MOUNTAINS EDGE 3,920 1 1.00 $248,552 MOCKINGBIRD LENNAR HN NONE 3,594 4 2.00 $197,924 MONARCH RIDGE CUSTOM LOT HN NONE 41,818 1 1.00 $509,469 MONTCLAIRE PARDEE HN GREEN VALLEY 10,346 4 2.00 $339,430 MONTCLAIRE PARDEE HN NONE 5,881 4 4.00 $341,388 MONTEBELLO AT TUSCANY DUNHILL HOMES HN TUSCANY 5,584 11 5.50 $214,201 MONTEBELLO AT TUSCANY RHODES HN TUSCANY 5,881 4 4.00 $259,728 LAS VEGAS COUNTRY MONTEREY APT/CV S 0 4 4.00 $69,500 CLUB MONTEREY DUNHILL HOMES SW RHODES RANCH 3,920 6 2.00 $222,409 MONTEREY AT LAS VEGAS COUNTRY LAS VEGAS COUNTRY APT/CV S 0 8 4.00 $87,753 CLUB CLUB NONE CUSTOM SW NONE 24,394 1 1.00 $455,593 NONE UNKNOWN NW NONE 26,136 1 1.00 $1,500,000 NORTH RANCH MANOR D R HORTON N NONE 7,575 18 6.00 $201,930 NORTHSTAR ESTATES BEAZER N NONE 8,422 3 1.50 $186,380 OAKLAND AT HIGHLAND HILLS KB HOME SW NONE 4,691 13 6.50 $188,863 ONE QUEENSRIDGE PLACE EHB NW QUEENSRIDGE 0 1 1.00 $1,675,000 PALM CREEK PALM CREEK E NONE 3,267 2 2.00 $120,000 HOLDINGS PANORAMA TOWER 3 SASSON HALLIER S NONE 0 8 2.67 $316,227 RICHMOND PARK VIEW CROSSING SW NONE 3,703 6 2.00 $191,009 AMERICAN PARKSIDE AT CENTENNIAL SPRINGS HARMONY NW CENTENNIAL SPRINGS 2,723 4 4.00 $147,667 PECOS & MCLEOD PECOS-MCLEOD S NONE 6,098 1 1.00 $165,000 DEV PESARO AT TUSCANY DUNHILL HOMES HN TUSCANY 6,098 1 1.00 $278,178 QUARTETTE AT WESTON HILLS BEAZER HN WESTON HILLS 2,701 10 5.00 $118,072 QUEENS BROOK ESTATES CUSTOM NW NONE 20,038 1 1.00 $489,000 RANCHO D ORO LENNAR N NONE 4,356 1 1.00 $199,000 RANCHO D'ORO LENNAR N NONE 4,729 7 2.33 $162,794 RAVEN HILL ADAVEN HOMES N NONE 4,792 6 6.00 $143,005 REDHAWK CUSTOM SW SUMMERLIN 27,007 1 1.00 $462,000 REMINGTON KB HOME NW NONE 2,468 9 4.50 $132,191 REMINGTON PLACE LENNAR NW NONE 2,614 2 2.00 $127,202 RESERVE BY AMERICAN WEST AMERICAN WEST SW CORONADO RANCH 4,712 11 3.67 $300,856 RESTON PARDEE N NONE 4,792 2 2.00 $204,200 RICHMOND AMERICAN AT THE RICHMOND SW NONE 6,679 3 3.00 $215,452 VININGS AMERICAN RICHMOND AMERICAN AT TOWN RICHMOND NW CENTENNIAL HILLS 4,066 3 1.50 $178,376 CENTER AMERICAN RICHMOND RICHMOND AMERICAN AT WESTWIND N NONE 6,679 3 1.50 $241,762 AMERICAN RICHMOND RICHMOND AT LORETTO BAY HN NONE 2,614 3 1.00 $166,425 AMERICAN RICHMOND RICHMOND AT VISTA VERDE NW NONE 4,792 1 1.00 $217,253 AMERICAN RIVERSTONE PARDEE N NONE 4,443 5 2.50 $206,349 RIVERWALK COVE D R HORTON N NONE 4,840 9 3.00 $185,188 RIVERWALK RANCH VISTAS D R HORTON N NONE 6,098 6 2.00 $170,903 ROCKWOOD PARDEE N NONE 4,356 1 1.00 $222,345 ROSABELLA AT WESTON HILLS BEAZER HN NONE 3,920 1 1.00 $141,652

Q3 2011 Las Vegas Housing Summary Page 12 Copyright©SalesTraq™ 2011 ROSETTA PARDEE SW MOUNTAINS EDGE 3,746 5 2.50 $173,263 SAN GABRIEL BY LENNAR LENNAR SW MOUNTAINS EDGE 3,412 6 2.00 $178,737 SAN MATEO PARDEE SW MOUNTAINS EDGE 3,485 4 4.00 $178,224 SARATOGA HIGHLANDS BEAZER NW PROVIDENCE 4,429 6 6.00 $152,672 SERRANO BY PARDEE PARDEE SW MOUNTAINS EDGE 5,165 7 3.50 $248,702 SEVEN HILLS CUSTOM LOT HN SEVEN HILLS 19,166 1 1.00 $490,000 SHADOW RUN AT DESERT CANYON LENNAR HN NONE 5,103 7 7.00 $166,954 RICHMOND SHADOWBROOK N NONE 5,663 1 1.00 $149,950 AMERICAN SHEA HOMES AT ARDIENTE SHEA HOMES N ARDIENTE 5,554 12 4.00 $238,990 SILVERADO COURT AMERICAN WEST S SILVERADO RANCH 4,530 5 1.67 $328,211 SILVERADO SPRINGS AMERICAN WEST S SILVERADO RANCH 4,356 1 1.00 $338,713 SKYRIDGE LENNAR NW NONE 2,614 3 1.50 $142,993 SOLAMAR PARDEE NW NONE 9,365 4 2.00 $292,995 SOLERA AT STALLION MOUNTAIN DEL WEBB E STALLION MOUNTAIN 5,663 12 6.00 $151,036 SOLSTICE PARDEE N ALIANTE 8,886 5 2.50 $307,118 SOMERSET AT HIGHLAND HILLS KB HOME SW NONE 4,247 12 4.00 $183,273 SOMERSET AT PROVIDENCE WOODSIDE NW PROVIDENCE 6,098 3 1.00 $259,845 SOMMERSET LENNAR HN NONE 6,534 4 2.00 $166,021 SOUTHERN HILLS BY D R HORTON D R HORTON HN NONE 7,492 10 3.33 $349,584 RICHMOND SPINNAKER AT TOWN CENTER NW CENTENNIAL HILLS 3,920 1 1.00 $165,000 AMERICAN SPRINGDALE PARDEE N ALIANTE 7,405 2 2.00 $288,225 ST ROSE COURT D R HORTON S NONE 926 16 5.33 $134,442 STALLION MOUNTAIN PULTE E STALLION MOUNTAIN 7,260 3 3.00 $183,018 STALLION MOUNTAIN GALLERY PULTE E STALLION MOUNTAIN 6,098 2 1.00 $167,957 RICHMOND STARLIGHT TRAILS SW NONE 3,049 1 1.00 $190,901 AMERICAN STONEHURST BEAZER SW MOUNTAINS EDGE 4,574 10 3.33 $166,212 SUMMER TRAIL MERITAGE SW MOUNTAINS EDGE 4,846 8 2.67 $245,494 SUMMIT AT SUNRISE HIGHLANDS HARMONY E NONE 7,260 3 1.50 $216,167 SUMMIT RIDGE AT DESERT CANYON LENNAR HN NONE 5,082 15 7.50 $143,854 TAORMINA RYLAD HN NONE 6,970 1 1.00 $309,565 TAPESTRY BY LEXIN ASTORIA NW NONE 1,742 10 5.00 $98,314 TERRA BELLA BY BLUE MARBLE BLUE MARBLE DEV HN ANTHEM 0 2 1.00 $335,161 RICHMOND TESERA SW NONE 4,283 6 3.00 $187,025 AMERICAN THE COMMONS WILLIAM LYON N NONE 6,970 1 1.00 $234,058 THE RESERVES AT TALAVERA KB HOME SW MOUNTAINS EDGE 5,953 3 3.00 $223,276 TIARA DESERT WIND SW NONE 3,485 1 1.00 $196,242 TOLL BROTHERS AT INSPIRADA TOLL BROTHERS HN INSPIRADA 2,759 9 3.00 $223,723 CORONADO TRACCIA HUNTINGTON TOLL BROTHERS SW SUMMERLIN 2,614 3 1.50 $266,979 TRADITION AMERICAN WEST SW CORONADO RANCH 3,703 4 4.00 $238,675 TRAIL RIDGE PARDEE SW NONE 2,831 6 2.00 $159,197 TREMEZZO HARMONY HN LAKE LAS VEGAS 13,939 1 1.00 $404,963 TRUMP TOWER TRUMP S NONE 0 3 1.00 $240,000 TULAROSA WILLIAM LYON SW MOUNTAINS EDGE 6,002 9 3.00 $197,708 TURNBERRY TOWERS TURNBERRY S NONE 0 1 1.00 $397,000 SOUTHERN TUSCAN CLIFFS PACIFIC SOUTHWEST SW 15,246 1 1.00 $1,075,000 HIGHLANDS RICHMOND TUSCANY CANYON SW MOUNTAINS EDGE 4,429 6 2.00 $202,712 AMERICAN RICHMOND TUSCANY HILLS SW MOUNTAINS EDGE 6,098 1 1.00 $177,747 AMERICAN

Q3 2011 Las Vegas Housing Summary Page 13 Copyright©SalesTraq™ 2011 TWILIGHT D R HORTON SW BUFFALO RANCH 7,986 6 2.00 $335,333 VALENCIA TERRACE BY HARMONY HARMONY E NONE 3,746 10 5.00 $124,607 VENTANA AT WESTON HILLS BEAZER HN NONE 5,772 12 12.00 $145,137 VENTANA AT WESTON HILLS BEAZER HN WESTON HILLS 5,160 13 6.50 $149,675 VERONA DUNHILL HOMES HN TUSCANY 4,356 1 1.00 $177,382 VERSANTE KB HOME HN NONE 4,356 1 1.00 $254,592 RICHMOND VIENNA HILLS N NONE 4,792 1 1.00 $140,000 AMERICAN VILLA PALERMO WOODSIDE HN LAKE LAS VEGAS 4,029 4 2.00 $251,860 VILLA TRIESTE PULTE NW SUMMERLIN 3,920 2 1.00 $250,464 VILLA TRIESTE PULTE SW SUMMERLIN 3,223 5 1.67 $222,536 VILLAGE AT CENTENNIAL SPRINGS HARMONY NW CENTENNIAL SPRINGS 3,049 1 1.00 $161,365 VININGS PINNACLE HOMES SW NONE 3,485 2 2.00 $163,475 VITA BELLA TOLL BROTHERS HN LAKE LAS VEGAS 1,742 1 1.00 $675,000 WEST PARK VILLAS WILLIAM LYON SW SUMMERLIN 0 1 1.00 $205,000 WESTCOTT AT NORTHERN TERRACE WARMINGTON NW PROVIDENCE 3,920 2 1.00 $174,563 WESTMINSTER LENNAR NW PROVIDENCE 9,148 2 2.00 $258,009 WESTWIND ESTATES BEAZER N NONE 6,534 2 2.00 $230,258 WINDHAM HILLS DESERT OAK SW NONE 15,682 1 1.00 $481,978 WINDIMERE KIMBALL HILL NW PROVIDENCE 3,920 1 1.00 $172,786 WINDIMERE AT PROVIDENCE RYLAND NW PROVIDENCE 3,775 3 1.50 $175,487 WINDSOR HILLS ESTATES LENNAR NW NONE 18,295 1 1.00 $426,290 WOODBRIDGE AMERICAN WEST SW CORONADO RANCH 7,032 7 2.33 $410,418 YORK VILLAGE BY LENNAR LENNAR SW NONE 1,917 15 7.50 $139,311

Count: 255 5,733 1,092 364.00 $226,207

Median Closing Price $200,245

Q3 2011 Las Vegas Housing Summary Page 14 Copyright©SalesTraq™ 2011 Closings by Zipcode 11/01/2011 New Home Closings Report by Larry E. Murphy SalesTraqTM Filter: Sale Date between 201107 AND 201109,Area=E,Area=HN,Area=N,Area=NW,Area=S,Area=SW www.salestraq.com

Zipcode Number Sold Median Price Average Price Average Price per SQFT Average Size Average Age Volume 89002 1 $171,594 $171,594 $ 84.32 2,035 0.0 $171,594 89011 96 $150,248 $186,217 $ 103.54 1,697 0.4 $17,876,830 89012 2 $524,796 $524,796 $ 150.94 5,267 3.0 $1,049,592 89015 5 $162,835 $234,711 $ 101.04 2,184 2.4 $1,173,554 89031 21 $178,885 $175,063 $ 80.30 2,262 1.2 $3,676,329 89032 28 $169,990 $166,855 $ 79.49 2,132 0.2 $4,671,930 89044 59 $218,358 $256,075 $ 105.64 2,414 0.1 $15,108,433 89052 65 $255,000 $264,561 $ 104.56 2,429 0.3 $17,196,448 89074 3 $169,641 $166,425 $ 101.74 1,633 0.0 $499,276 89081 38 $186,407 $189,478 $ 95.02 2,211 0.5 $7,200,179 89084 40 $214,079 $221,160 $ 88.49 2,746 0.1 $8,846,390 89085 16 $225,560 $221,647 $ 85.96 2,597 0.1 $3,546,348 89101 3 $165,000 $143,667 $ 82.02 1,711 1.3 $431,000 89102 35 $265,710 $255,324 $ 214.91 1,217 5.0 $8,936,329 89103 8 $282,500 $316,227 $ 262.53 1,179 4.0 $2,529,818 89109 18 $105,188 $212,612 $ 227.45 1,064 26.8 $3,827,022 89110 10 $122,418 $124,607 $ 57.24 2,176 0.0 $1,246,070 89113 41 $164,291 $213,250 $ 105.99 2,153 0.9 $8,743,267 89115 6 $115,465 $117,539 $ 69.74 1,731 0.4 $705,235 89121 1 $165,000 $165,000 $ 84.01 1,964 3.0 $165,000 89122 25 $150,000 $145,995 $ 91.33 1,631 1.2 $3,649,875 89123 16 $135,000 $134,442 $ 88.32 1,530 0.2 $2,151,077 89129 13 $156,833 $280,227 $ 104.88 2,274 0.6 $3,642,954 89130 25 $237,419 $212,270 $ 100.58 2,050 0.0 $5,306,743 89131 23 $292,000 $308,178 $ 106.35 2,975 0.4 $7,088,097 89135 33 $266,248 $272,154 $ 128.27 2,096 0.0 $8,981,094 89138 14 $325,552 $328,078 $ 115.71 2,394 0.0 $4,593,091 89139 44 $296,176 $302,838 $ 107.66 3,275 0.0 $13,324,884 89141 37 $185,000 $210,839 $ 98.00 2,217 0.5 $7,801,038 89142 4 $192,403 $197,895 $ 77.51 2,792 0.0 $791,579 89143 8 $162,297 $219,674 $ 94.77 2,574 0.2 $1,757,393 89145 10 $463,926 $557,470 $ 212.46 2,457 5.0 $5,574,704 89147 30 $229,372 $256,227 $ 102.62 2,693 0.0 $7,686,818 89148 37 $267,651 $273,934 $ 107.70 2,390 0.2 $10,135,563 89149 71 $150,786 $210,998 $ 81.91 1,993 0.9 $14,980,843 89166 97 $179,137 $187,863 $ 86.61 2,089 0.3 $18,222,720 89169 1 $299,730 $299,730 $ 0.00 0 0.0 $299,730 89178 47 $185,056 $204,056 $ 91.57 2,390 0.2 $9,590,622 89179 50 $185,622 $199,130 $ 98.37 2,052 0.6 $9,956,482 89183 10 $351,457 $357,089 $ 114.40 3,153 0.1 $3,570,892 UNKWN 1 $311,554 $311,554 $ 0.00 0 0.0 $311,554

1,092 $200,245 $226,207 $ 109.76 2,125 1.4 $247,018,397

DATE Total Permits Clark Henderson Las Vegas North Las Vegas Q1 07 3,506 1,955 629 187 775 Q2 4,346 1,860 896 958 675 Q3 2,148 978 388 258 548 Q4 2,515 1,177 265 410 678 Q1 08 1,141 459 220 268 200 Q2 1,881 943 406 360 180 Q3 1,762 778 269 289 431 Q4 651 324 93 142 95 Q1 09 546 285 76 94 98 Q2 974 562 105 187 123 Q3 1,283 712 142 259 174 Q4 947 480 168 169 132 Q1 10 1,448 787 197 280 184 Q2 1,283 629 197 261 197 Q3 884 413 134 197 143 Q4 716 335 107 157 118 Q1 11 811 415 136 170 92 Q2 1,205 496 296 275 139 Q3 873 371 175 184 147 Includes all structure types: SFR, TH/Condo, Mid Rise, Hi Rise

Las Vegas Metro Market 5,000 Total Permits

4,000 Clark

Henderson 3,000 Las Vegas Closed North Las 2,000 Vegas Units 1,000

0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 07 08 09 10 11 Includes Las Vegas, North Las Vegas, Henderson, Portions of unincorporated Clark county.

Q3 2011 Las Vegas Housing Summary Page 16 Copyright©SalesTraq™ 2011 Permits by Planned Community 11/01/2011 New Home Report by Larry E. Murphy SalesTraqTM Filter: Permit Date between 201101 AND 201109 www.salestraq.com

Avg Permits Planned Community Permits Per Month ALIANTE 56 6.22 ANTHEM 22 3.14 ARDIENTE 27 3.86 BILBRAY RANCH 7 1.00 BUFFALO RANCH 104 17.33 CALICO RIDGE 1 1.00 CENTENNIAL RANCH 9 1.13 CENTENNIAL SPRINGS 24 2.67 CORONADO RANCH 71 7.89 GREEN VALLEY 5 5.00 HIGHLANDS RANCH 49 5.44 INSPIRADA 69 7.67 LAKE LAS VEGAS 34 3.78 LOG CABIN RANCH 4 2.00 MACDONALD HIGHLANDS 1 1.00 MADEIRA CANYON 81 9.00 MOUNTAINS EDGE 282 31.33 NEVADA TRAILS 2 2.00 NONE 1,309 145.44 PROVIDENCE 292 32.44 RHODES RANCH 87 9.67 SEVEN HILLS 6 0.75 SILVERADO RANCH 20 2.22 SOUTHERN HIGHLANDS 15 1.67 STALLION MOUNTAIN 47 5.22 SUMMERLIN 165 18.33 TUSCANY 67 7.44 WESTON HILLS 40 5.00

Count: 28 2,896 14.41

Q3 2011 Las Vegas Housing Summary Page 17 Copyright©SalesTraq™ 2011 Permits by Builder - Alphabetical 11/01/2011 New Home Report by Larry E. Murphy SalesTraqTM Filter: Permit Date between 201101 AND 201109 www.salestraq.com

Avg Permits Builder Permits Per Month ADAVEN HOMES 8 2.00 AMERICAN WEST 138 15.33 BANK WEST 1 1.00 BEAZER 109 12.11 BLUE HERON 4 0.57 CUSTOM 17 1.89 D R HORTON 373 41.44 DEL WEBB 36 4.00 DESERT OAK 3 0.75 DESERT WIND 4 0.80 DISCOVERY 25 2.78 DUNHILL HOMES 158 17.56 HABITAT FOR HUMANITY 4 2.00 HARMONY 148 16.44 KB HOME 425 47.22 KOBIE CREEK LLC 6 1.50 LENNAR 248 27.56 MERITAGE 20 2.50 NEVADA HOMES GROUP 1 1.00 PARDEE 168 18.67 PETERSEN DEVELOPMENT LLC 2 2.00 PINNACLE 9 1.50 PINNACLE HOMES 5 5.00 PULTE 185 20.56 R/S DEVELOPMENT 3 3.00 RHODES 2 2.00 RICHMOND AMERICAN 267 29.67 RYLAND 164 18.22 S H T LLC 8 4.00 SHEA HOMES 27 3.86 SPOOLING DOWN LLC 3 3.00 STANDARD PACIFIC 16 8.00 STORYBOOK 27 4.50 TOLL BROTHERS 23 2.56 WARMINGTON 61 6.78 WILLIAM LYON 76 8.44 WOODSIDE 122 13.56

Count: 37 2,896 12.81

Q3 2011 Las Vegas Housing Summary Page 18 Copyright©SalesTraq™ 2011 Permits by Builder - by Volume 11/01/2011 New Home Report by Larry E. Murphy SalesTraqTM Filter: Permit Date between 201101 AND 201109 www.salestraq.com Order: Total Permits Descending

Avg Permits Builder Permits Per Month KB HOME 425 47.22 D R HORTON 373 41.44 RICHMOND AMERICAN 267 29.67 LENNAR 248 27.56 PULTE 185 20.56 PARDEE 168 18.67 RYLAND 164 18.22 DUNHILL HOMES 158 17.56 HARMONY 148 16.44 AMERICAN WEST 138 15.33 WOODSIDE 122 13.56 BEAZER 109 12.11 WILLIAM LYON 76 8.44 WARMINGTON 61 6.78 DEL WEBB 36 4.00 STORYBOOK 27 4.50 SHEA HOMES 27 3.86 DISCOVERY 25 2.78 TOLL BROTHERS 23 2.56 MERITAGE 20 2.50 CUSTOM 17 1.89 STANDARD PACIFIC 16 8.00 PINNACLE 9 1.50 S H T LLC 8 4.00 ADAVEN HOMES 8 2.00 KOBIE CREEK LLC 6 1.50 PINNACLE HOMES 5 5.00 DESERT WIND 4 0.80 HABITAT FOR HUMANITY 4 2.00 BLUE HERON 4 0.57 DESERT OAK 3 0.75 R/S DEVELOPMENT 3 3.00 SPOOLING DOWN LLC 3 3.00 RHODES 2 2.00 PETERSEN DEVELOPMENT LLC 2 2.00 BANK WEST 1 1.00 NEVADA HOMES GROUP 1 1.00

Count: 37 2,896 12.81

Q3 2011 Las Vegas Housing Summary Page 19 Copyright©SalesTraq™ 2011 Permits by Subdivision 11/01/2011 New Home Report by Larry E. Murphy SalesTraqTM Filter: Permit Date between 201101 AND 201109 www.salestraq.com

Avg Permits Subdivision Builder Area Planned Community Permits Per Month "COMMONS, THE" WILLIAM LYON N NONE 3 3.00 ALLORA II AT DAVYN RIDGE RYLAND N NONE 28 3.50 ALPINE RIDGE ESTATES D R HORTON NW NONE 19 3.80 AMADO AT THE MESA PULTE SW SUMMERLIN 46 5.75 AMADO CREST AT SUMMERLIN RICHMOND AMERICAN SW SUMMERLIN 27 3.38 AMADO RIDGE AT SUMMERLIN RICHMOND AMERICAN SW SUMMERLIN 3 3.00 ANDOVER MERITAGE S PROVIDENCE 1 1.00 ANTHEM HIGHLANDS PULTE HN ANTHEM 10 1.43 ANTHEM HIGHLANDS GLENGARRY KB HOME HN ANTHEM 12 1.71 ARBOR RIDGE LENNAR NW PROVIDENCE 20 2.22 ASHWOOD PARDEE SW NEVADA TRAILS 2 2.00 AUGUSTA RYLAND SW NONE 7 1.40 AVELLINO RIDGE KB HOME HN NONE 47 5.88 AZURE CUSTOM SW SUMMERLIN 2 2.00 BARCELONA BY WOODSIDE WOODSIDE NW SUMMERLIN 17 3.40 BAVARIA ESTATES D R HORTON NW NONE 9 1.80 BAVARIA MANOR D R HORTON NW NONE 17 8.50 BEDFORD ESTATES D R HORTON NW NONE 3 3.00 BELCERRO II RICHMOND AMERICAN SW SOUTHERN HIGHLANDS 14 2.00 BELLA FIORE BY HARMONY HARMONY HN LAKE LAS VEGAS 12 1.50 BELLA LAGO RICHMOND AMERICAN SW NONE 25 2.78 BONITA VISTA ESTATES CUSTOM NW NONE 1 1.00 BRADFORD RYLAND NW PROVIDENCE 2 0.33 BRECKENRIDGE DISCOVERY SW MOUNTAINS EDGE 5 0.63 BRIGHT ANGEL D R HORTON NW NONE 9 3.00 BRIGHTON DUNHILL HOMES SW RHODES RANCH 49 5.44 BROOKHAVEN KB HOME NW NONE 36 4.50 BROOKSTONE WOODSIDE NW PROVIDENCE 1 1.00 BUFFALO RANCH D R HORTON SW BUFFALO RANCH 104 17.33 CALICO RIDGE CUSTOM HN CALICO RIDGE 1 1.00 CALLVILLE ESTATES D R HORTON HN NONE 4 4.00 CALVILLE ESTATES D R HORTON HN NONE 1 1.00 CAMERON RYLAND SW NONE 8 1.33 CANTANIA RYLAND HN NONE 9 2.25 CANTANIA RYLAND S NONE 2 2.00 CANYON CREEK WOODSIDE SW NONE 2 2.00 CANYON FALLS ESTATES HARMONY SW NONE 4 1.33 CANYON SPRINGS LENNAR N NONE 14 4.67 CAPISTRANO AT VISTA CIELO HARMONY N NONE 17 1.89 CASCADE BY DISCOVERY DISCOVERY SW MOUNTAINS EDGE 18 2.25 CENTENNIAL ESTATES D R HORTON HN NONE 2 2.00 CENTENNIAL ESTATES D R HORTON NW NONE 6 1.50 CENTENNIAL MESA BEAZER NW NONE 9 1.80 CHESTNUT HILL AT PROVIDENCE RICHMOND AMERICAN NW PROVIDENCE 4 0.67 CLUB AT MADEIRA CANYON PULTE HN MADEIRA CANYON 36 4.50 COLLEGE HEIGHTS HABITAT FOR HUMANITY N NONE 1 1.00 CONOUGH ESTATES D R HORTON NW NONE 7 7.00

Q3 2011 Las Vegas Housing Summary Page 20 Copyright©SalesTraq™ 2011 COPPER CREEK BY RICHMOND AMERICAN RICHMOND AMERICAN E NONE 32 4.57 COPPERHEAD CANYONS BY RICHMOND AMERICAN RICHMOND AMERICAN SW NONE 9 2.25 CORDOVA ESTATES RYLAND HN NONE 32 3.56 CORONADO CENTER LENNAR HN NONE 6 6.00 CORONADO HILLS LENNAR HN NONE 10 3.33 COTTAGES AT CENTENNIAL RANCH WILLIAM LYON N CENTENNIAL RANCH 9 1.13 CRAIG & PALM S H T LLC N NONE 8 4.00 DAY DAWN FUSION NEVADA HOMES GROUP NW NONE 1 1.00 DAY DAWN FUSION PETERSEN DEVELOPMENT LLC NW NONE 2 2.00 DESERT RIDGE STANDARD PACIFIC N NONE 16 8.00 DIAMOND POINT LENNAR N NONE 6 0.86 EAGLE ROCK ESTATES PINNACLE HOMES NW NONE 2 2.00 EMERSON AT PROVIDENCE RICHMOND AMERICAN NW PROVIDENCE 5 2.50 EMERSON AT PROVIDENCE WARMINGTON NW PROVIDENCE 18 18.00 ENCANTOS STORYBOOK E NONE 2 2.00 FAIRWAYS DUNHILL HOMES SW RHODES RANCH 3 1.50 FAIRWAYS RHODES SW RHODES RANCH 2 2.00 FALCON RIDGE BY RICHMOND AMERICAN RICHMOND AMERICAN N NONE 19 6.33 FIELDS AT ALIANTE HARMONY N ALIANTE 15 1.88 FIELDS AT ALIANTE BY LYON HOMES WILLIAM LYON N ALIANTE 4 0.80 FINISTERRE WOODSIDE S NONE 2 2.00 FOOTHILLS RANCH WOODSIDE HN NONE 6 3.00 FOXBOROUGH RICHMOND AMERICAN SW NONE 18 2.00 GENEVA DUNHILL HOMES SW RHODES RANCH 7 1.17 GLENBROOK ESTATES D R HORTON S NONE 12 2.00 GLENBROOK PONDEROSA D R HORTON S NONE 5 1.25 GRANDE POINT RICHMOND AMERICAN S SILVERADO RANCH 3 3.00 GREAT FALLS AT MOUNTAINS EDGE MERITAGE SW MOUNTAINS EDGE 3 0.75 HARMONY HEIGHTS HARMONY NW NONE 4 1.00 HARMONY POINTE HARMONY N NONE 14 1.56 HARMONY SPRINGS HARMONY NW CENTENNIAL SPRINGS 24 2.67 HEARTHSTONE AT PROVIDENCE WOODSIDE NW PROVIDENCE 43 4.78 HERMOSA RIDGE KB HOME NW NONE 8 2.00 HIDDEN CANYON ESTATES TOLL BROTHERS NW NONE 1 1.00 HIGHGATE AT PROVIDENCE RICHMOND AMERICAN NW PROVIDENCE 8 1.33 HILLSIDE RICHMOND AMERICAN NW NONE 11 2.75 INSPIRADA KB HOME HN INSPIRADA 58 6.44 INSPIRADA TOLL BROTHERS HN INSPIRADA 11 1.22 JANELL & LA MADRE D R HORTON NW NONE 12 1.50 KARDELO AT DAVYN RIDGE RYLAND N NONE 8 1.14 KENSINGTON AT PROVIDENCE RYLAND NW PROVIDENCE 39 4.88 KINGSBRIDGE AMERICAN WEST SW CORONADO RANCH 23 2.56 KINGWOOD AT SUMMERLIN KB HOME NW SUMMERLIN 15 3.75 KINGWOOD KNOLL RYLAND NW SUMMERLIN 15 3.00 KOBIE CREEK KOBIE CREEK LLC NW NONE 6 1.50 LA PUERTA PARDEE SW MOUNTAINS EDGE 8 4.00 LA VENTINA D R HORTON NW NONE 27 3.38 LADERA KB HOME SW SUMMERLIN 7 1.40 LADERA TERRACE HARMONY SW SUMMERLIN 8 1.33 LAGUNA AT VISTA CIELO HARMONY N NONE 5 0.63 LAS ROSAS HARMONY E NONE 5 0.63 LEXINGTON AMERICAN WEST SW HIGHLANDS RANCH 35 3.89 LEXINGTON BY LENNAR LENNAR NW NONE 17 1.89 LIBERTY HILLS BY R/S DEVELOPMENT R/S DEVELOPMENT NW PROVIDENCE 3 3.00

LOG CABIN LEGENDSQ3 2011 Las Vegas Housing Summary Page 21 Copyright©SalesTraq™ 2011 D R HORTON NW LOG CABIN RANCH 4 2.00 LONE MOUNTAIN ESTATES D R HORTON NW NONE 6 2.00 LONE MOUNTAIN ESTATES DISCOVERY N NONE 1 1.00 LOS LIBROS STORYBOOK E NONE 4 4.00 MACDONALD HIGHLANDS CUSTOM HN MACDONALD HIGHLANDS 1 1.00 MADEIRA CANYON PULTE HN MADEIRA CANYON 45 5.00 MADERA PARDEE NW NONE 3 3.00 MADISON COLONY WOODSIDE NW PROVIDENCE 17 2.13 MADISON GROVE LENNAR NW PROVIDENCE 8 8.00 MANCHESTER PARK KB HOME NW PROVIDENCE 23 2.56 MANDOLIN BY LENNAR LENNAR SW MOUNTAINS EDGE 13 1.44 MANOR AT BILBRAY RANCH D R HORTON LAU BILBRAY RANCH 7 1.00 MAPLEWOOD PINNACLE SW NONE 6 2.00 MAPLEWOOD PINNACLE HOMES SW NONE 3 3.00 MARAVILLA COURTS KB HOME SW MOUNTAINS EDGE 10 5.00 MARAVILLA RIDGES KB HOME SW MOUNTAINS EDGE 13 13.00 MARAVILLA VILLAS KB HOME SW MOUNTAINS EDGE 34 6.80 MARQUIS SEVEN HILLS BLUE HERON HN SEVEN HILLS 4 0.57 MATTLYN ESTATES D R HORTON HN NONE 4 4.00 MESA AT WESTON WILLS BEAZER HN WESTON HILLS 1 1.00 MIRASOL TOLL BROTHERS SW MOUNTAINS EDGE 2 0.29 MOCKINGBIRD LENNAR HN NONE 20 3.33 MONTCLAIRE PARDEE HN GREEN VALLEY 5 5.00 MONTCLAIRE PARDEE HN NONE 34 5.67 MONTEREY DUNHILL HOMES SW NONE 6 6.00 MONTEREY DUNHILL HOMES SW RHODES RANCH 22 2.44 MYSTIC ESTATES RICHMOND AMERICAN HN NONE 3 1.00 NEW DUNHILL HOMES SW RHODES RANCH 4 4.00 NEWCASTLE AMERICAN WEST SW CORONADO RANCH 1 1.00 NEWCASTLE AMERICAN WEST SW HIGHLANDS RANCH 7 1.40 NONE CUSTOM HN NONE 1 1.00 NONE CUSTOM NW NONE 2 0.40 NONE CUSTOM SW NONE 3 3.00 NONE HABITAT FOR HUMANITY N NONE 1 1.00 NORTH RANCH ESTATES D R HORTON N NONE 30 10.00 NORTHSTAR ESTATES BEAZER N NONE 13 1.86 PARK RANCH ESTATES D R HORTON NW NONE 9 4.50 PARK VIEW CROSSING RICHMOND AMERICAN SW NONE 13 1.44 PRIMA BELLA BEAZER N NONE 6 1.20 PROMONTORY CUSTOM SW SUMMERLIN 2 0.25 PYRENEES BY DISCOVERY DISCOVERY SW MOUNTAINS EDGE 1 1.00 RANCHO D'ORO LENNAR N NONE 18 3.00 RAVEN HILL ADAVEN HOMES N NONE 8 2.00 REMINGTON KB HOME NW NONE 27 4.50 REMINGTON PLACE LENNAR NW NONE 6 2.00 RESERVE BY AMERICAN WEST AMERICAN WEST SW CORONADO RANCH 28 3.11 RICHMOND AMERICAN AT THE VININGS RICHMOND AMERICAN SW NONE 17 2.83 RICHMOND AMERICAN AT TOWN CENTER RICHMOND AMERICAN NW NONE 3 1.00 RICHMOND AMERICAN AT VISTA VERDE RICHMOND AMERICAN NW NONE 3 1.00 RICHMOND AMERICAN AT WESTWIND RICHMOND AMERICAN N NONE 2 1.00 RICHMOND AT LORETTO BAY RICHMOND AMERICAN HN NONE 5 5.00 RICHMOND AT TOWN CENTER RICHMOND AMERICAN NW NONE 4 4.00 RICHMOND AT VISTA VERDE RICHMOND AMERICAN NW NONE 2 2.00 RIVERSTONE PARDEE N NONE 18 4.50

RIVERWALK COVEQ3 2011 Las Vegas Housing Summary Page 22 Copyright©SalesTraq™ 2011 D R HORTON N NONE 8 8.00 RIVERWALK RANCH HIGH NOON D R HORTON N NONE 15 7.50 RIVIERA RIDGE D R HORTON HN NONE 16 3.20 ROCKWOOD PARDEE N NONE 8 8.00 ROMA HILLS CUSTOM HN NONE 1 1.00 ROSABELLA AT WESTON HILLS BEAZER HN WESTON HILLS 39 4.88 ROSETTA PARDEE SW MOUNTAINS EDGE 12 4.00 SAN GABRIEL BY LENNAR LENNAR SW MOUNTAINS EDGE 18 2.57 SARATOGA HIGHLANDS AT PROVIDENCE BEAZER NW PROVIDENCE 11 5.50 SERENITY RIDGE WILLIAM LYON NW NONE 4 4.00 SERRANO BY PARDEE PARDEE SW MOUNTAINS EDGE 8 4.00 SEVEN HILLS CUSTOM HN SEVEN HILLS 2 1.00 SHADOW RUN AT DESERT CANYON LENNAR HN NONE 8 8.00 SHEA HOMES AT ARDIENTE SHEA HOMES N ARDIENTE 27 3.86 SILVERADO COURT AMERICAN WEST S SILVERADO RANCH 17 1.89 SILVERADO SPRINGS AMERICAN WEST S NONE 1 1.00 SKY RIDGE LENNAR NW NONE 11 1.57 SOLAMAR PARDEE NW NONE 7 3.50 SOLERA AT STALLION MOUNTAIN DEL WEBB E STALLION MOUNTAIN 36 4.00 SOLSTICE PARDEE N ALIANTE 37 4.63 SOMERSET AT HIGHLAND HILLS KB HOME SW NONE 83 9.22 SOMERSET AT PROVIDENCE WOODSIDE NW PROVIDENCE 18 2.57 SOUTH MOUNTAIN RYLAND SW NONE 5 1.67 SOUTHERN HILLS D R HORTON HN NONE 28 4.00 STALLION MOUNTAIN PULTE E STALLION MOUNTAIN 11 2.20 STONEHURST BEAZER SW MOUNTAINS EDGE 20 2.86 STONEWATER RICHMOND AMERICAN NW NONE 7 0.78 SUMMER TRAIL MERITAGE SW MOUNTAINS EDGE 16 2.00 SUMMIT AT SUNRISE HIGHLANDS HARMONY E NONE 19 2.11 SUMMIT RIDGE AT DESERT CANYON LENNAR HN NONE 21 2.63 TALAVERA KB HOME SW MOUNTAINS EDGE 30 4.29 TALUS AT SUNRISE HIGHLANDS HARMONY E NONE 1 1.00 TESERA RICHMOND AMERICAN SW NONE 9 1.00 THE COMMONS WILLIAM LYON N NONE 9 9.00 THE CROSSINGS WILLIAM LYON NW NONE 20 2.86 TIARA SUMMIT II DESERT WIND SW NONE 4 0.80 TIARA SUMMIT II SPOOLING DOWN LLC SW NONE 3 3.00 TIERRA VISTA PULTE SW MOUNTAINS EDGE 23 4.60 TRACCIA TOLL BROTHERS SW SUMMERLIN 9 1.80 TRAIL RIDGE PARDEE SW NONE 26 6.50 TREMEZZO HARMONY HN LAKE LAS VEGAS 6 0.86 TRISSINO STORYBOOK SW NONE 12 2.00 TULAROSA WILLIAM LYON SW MOUNTAINS EDGE 27 4.50 TUSCANY DUNHILL HOMES HN TUSCANY 67 7.44 TUSCANY CANYON RICHMOND AMERICAN SW MOUNTAINS EDGE 19 2.11 TUSCANY HILLS RICHMOND AMERICAN SW MOUNTAINS EDGE 2 2.00 TUSCANY HILLS ESTATES D R HORTON NW NONE 9 1.50 UNKNOWN BANK WEST NW NONE 1 1.00 VALENCIA TERRACE HARMONY E NONE 14 3.50 VEGAS HEIGHTS HABITAT FOR HUMANITY N NONE 2 2.00 VERSANTE KB HOME HN NONE 22 3.67 VILLA PALERMO WOODSIDE HN LAKE LAS VEGAS 16 1.78 VILLA TRIESTE PULTE SW SUMMERLIN 14 2.33 VILLAGE OF AVELLINO-UNIT 3 AMD RYLAND HN NONE 1 1.00

VININGS Q3 2011 Las Vegas Housing Summary Page 23 Copyright©SalesTraq™ 2011 PINNACLE SW NONE 3 0.50 VINTAGE OAKS CUSTOM SW SOUTHERN HIGHLANDS 1 1.00 WESTCOTT AT NORTHERN TERRACE WARMINGTON NW PROVIDENCE 43 4.78 WESTMINSTER LENNAR NW PROVIDENCE 20 2.50 WESTWIND ESTATES BEAZER N NONE 10 10.00 WHITE HORSE SOUTH LENNAR NW NONE 6 1.20 WHITEHORSE WEST LENNAR NW NONE 4 4.00 WINDHAM HILLS DESERT OAK SW NONE 3 0.75 WINDIMERE AT PROVIDENCE RYLAND NW PROVIDENCE 8 0.89 WINDSOR AMERICAN WEST SW HIGHLANDS RANCH 7 0.78 WINERIDGE ESTATES STORYBOOK SW NONE 9 9.00 WOODBRIDGE AMERICAN WEST SW CORONADO RANCH 19 2.38 YORK VILLAGE LENNAR SW NONE 22 22.00

Count: 222 2,896 2.85

Q3 2011 Las Vegas Housing Summary Page 24 Copyright©SalesTraq™ 2011 Permits by Zipcode 11/01/2011 New Home Report by Larry E. Murphy SalesTraqTM Filter: Permit Date between 201101 AND 201109 www.salestraq.com

Avg Permits Zipcode Permits Per Month 89002 4 4.00 89011 117 13.00 89012 46 7.67 89015 97 10.78 89028 7 1.00 89030 1 1.00 89031 40 8.00 89032 83 9.22 89044 172 19.11 89052 168 18.67 89074 5 5.00 89081 69 7.67 89084 120 13.33 89085 56 7.00 89086 9 1.13 89106 2 2.00 89110 14 3.50 89113 83 9.22 89115 11 1.38 89118 3 0.60 89120 1 1.00 89121 2 2.00 89122 79 8.78 89123 28 3.11 89129 26 3.71 89130 70 7.78 89131 95 10.56 89135 118 13.11 89138 47 5.88 89139 112 12.44 89141 175 19.44 89142 20 2.22 89143 9 1.50 89147 104 17.33 89148 117 13.00 89149 154 17.11 89166 306 34.00 89178 268 29.78 89179 46 5.75 89183 12 1.50

Count: 40 2,896 10.34

DATE Total Closings Median Price Avg $/Sq Ft Q1 07 7,223 $285,000 $186.89 Q2 7,034 $279,432 $184.25 Q3 5,551 $271,083 $177.34 Q4 4,341 $253,000 $165.90 Q1 08 5,101 $233,960 $145.00 Q2 7,840 $221,788 $131.18 Q3 9,839 $198,317 $117.82 Q4 9,349 $169,667 $102.05 Q1 09 9,591 $142,283 $86.40 Q2 13,420 $123,933 $77.72 Q3 14,272 $120,633 $76.59 Q4 13,841 $119,333 $76.46 Q1 10 12,082 $118,950 $76.60 Q2 13,526 $123,697 $79.15 Q3 12,832 $118,531 $77.23 Q4 12,997 $114,967 $74.23 Q1 11 13,045 $108,667 $71.68 Q2 15,682 $105,800 $69.47 Q3 15,502 $104,267 $68.54 Includes all sales types: Auction, REO, Short Sales, and Non‐Distressed

Las Vegas Metro Market $300,000 18,000

$250,000 15,000

$200,000 12,000 Price

$150,000 9,000 Closed

$100,000 6,000 Units Median

$50,000 3,000

$0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 07 08 09 10 11 Includes Las Vegas, North Las Vegas, Henderson, Portions of unincorporated Clark county.

DATE Total Closings APTCV HIRISE MIDRISE SFR THCN Q1 07 7,223 150 61 32 5,850 1,073 Q2 7,034 123 55 37 5,675 1,071 Q3 5,551 94 59 34 4,466 846 Q4 4,341 80 71 17 3,530 604 Q1 08 5,101 103 61 17 4,316 566 Q2 7,840 118 61 30 6,844 755 Q3 9,839 218 85 23 8,586 898 Q4 9,349 361 59 48 7,877 984 Q1 09 9,591 500 62 43 7,948 1,013 Q2 13,420 756 121 112 10,784 1,622 Q3 14,272 828 183 114 11,329 1,773 Q4 13,841 756 254 115 10,901 1,769 Q1 10 12,082 708 206 88 9,478 1,539 Q2 13,526 662 228 121 10,600 1,866 Q3 12,832 723 251 96 9,847 1,858 Q4 12,997 726 233 113 10,003 1,869 Q1 11 13,045 693 252 91 10,011 1,941 Q2 15,682 776 259 106 12,250 2,212 Q3 15,502 761 239 90 12,148 2,194

Includes all structure types: SFR, TH/Condo, Mid Rise, Hi Rise

Las Vegas Metro Market 18,000 Total 16,000 Closings SFR 14,000 THCN

12,000 HIRISE

10,000 MIDRISE Closed

8,000 APTCV 6,000 Units 4,000 2,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 07 08 09 10 11 Includes Las Vegas, North Las Vegas, Henderson, Portions of unincorporated Clark county.

Low High APT/CVHI RISE MID RISE MOBILE SFR TH/CN ALL $0- $49,999 495 0 16 49 907 873 2,342 $50,000- $74,999 216 0 26 1 1529 663 2,441 $75,000 - $99,999 33 4 14 0 2,148 373 2,572 $100,000 - $124,999 2 17 21 6 1,996 129 2,171 $125,000 - $149,999 8 43 5 2 1,637 87 1,782 $150,000 - $174,999 5 43 4 6 1,168 29 1,255 $175,000 - $199,999 2 15 2 0 669 13 701 $200,000 - $224,999 0 21 1 0 515 10 547 $225,000 - $249,999 0 18 0 0 389 3 410 $250,000 - $274,999 0 11 0 0 263 7 281 $275,000 - $299,999 0 14 0 0 181 2 197 $300,000 - $324,999 0 6 1 0 159 1 167 $325,000 - $349,999 0 7 0 0 113 2 122 $350,000 - $374,999 0 6 0 0 96 0 102 $375,000 - $399,999 0 8 0 0 56 0 64 $400,000 - $424,999 0 4 0 0 51 1 56 $425,000 - $449,999 0 1 0 0 33 0 34 $450,000 - $474,999 0 3 0 0 40 0 43 $475,000 - $499,999 0 3 0 0 26 0 29 $500,000 - $524,999 0 1 0 0 21 0 22 $525,000 - $549,999 0 0 0 0 16 0 16 $550,000 - $574,999 0 0 0 0 13 0 13 $575,000 - $599,999 0 0 0 0 7 0 7 $600,000 - $624,999 0 0 0 0 16 0 16 $625,000 - $649,999 0 2 0 0 8 1 11 $650,000 - $674,999 0 0 0 0 9 0 9 $675,000 - $699,999 0 0 0 0 7 0 7 $700,000 - $724,999 0 1 0 0 10 0 11 $725,000 - $749,999 0 1 0 0 5 0 6 $750,000 - $774,999 0 0 0 0 2 0 2 $775,000 - $799,999 0 0 0 0 4 0 4 $800,000 - $824,999 0 0 0 0 3 0 3 $825,000 - $849,999 0 1 0 0 3 0 4 $850,000 - $874,999 0 0 0 0 6 0 6 $875,000 - $899,999 0 1 0 0 0 0 1 $900,000 - $924,999 0 0 0 0 2 0 2 $925,000 - $949,999 0 0 0 0 4 0 4 $950,000 - $974,999 0 0 0 0 1 0 1 $975,000 - $999,999 0 0 0 0 0 0 0 $1,000,000 - $1,499,999 0 4 0 0 17 0 21 $1,500,000 - $1,999,999 0 0 0 0 5 0 5 $2,000,000 - $2,499,999 0 1 0 0 6 0 7 $2,500,000 - $99,999,999 0 1 0 0 7 0 7

Includes Las Vegas, North Las Vegas, Henderson, Portions of unincorporated Clark county.

$750,000 24,000 Re‐Sales in 51,000 Re‐Sales $725,000 2007 in 2010 $700,000 Median Price: Median Price: $675,000 $274,000 $118,000 $650,000 $625,000 $600,000 $575,000 $550,000 $525,000 $500,000 $475,000 2010 $450,000 $425,000 2007 $400,000 $375,000 $350,000 $325,000 $300,000 $275,000 $250,000 $225,000 $200,000 $175,000 $150,000 $125,000 $100,000 $75,000 $50,000 $25,000

5,000 3,000 1,000 1,000 3,000 5,000 7,000

Includes Las Vegas, North Las Vegas, Henderson, Portions of unincorporated Clark county. Includes all structure types: SFR, TH/Condo, Mid Rise, Hi Rise Closings by Zipcode 11/01/2011 Existing Home Closings Report by Larry E. Murphy SalesTraqTM Filter: Sale Date between 201107 AND www.salestraq.com 201109,Area=E,Area=HN,Area=N,Area=NW,Area=S,Area=SW,SaleCode=A,SaleCode=F,SaleCode=R,SaleCode=S

Zipcode Number Sold Median Price Average Price Average Price per SQFT Average Size Average Age Volume 89002 285 $135,000 $150,518 $ 71.28 2,067 11.6 $42,897,507 89004 1 $190,000 $190,000 $ 128.03 1,484 56.0 $190,000 89005 1 $52,600 $52,600 $ 42.39 1,241 30.0 $52,600 89011 224 $112,750 $156,133 $ 78.56 1,790 10.8 $34,973,714 89012 241 $160,550 $210,236 $ 90.56 2,237 10.6 $50,666,914 89014 244 $120,500 $135,958 $ 70.84 1,850 21.5 $33,173,841 89015 330 $86,400 $99,812 $ 61.01 1,585 20.2 $32,938,050 89030 202 $35,250 $39,841 $ 32.46 1,271 43.2 $8,047,895 89031 675 $92,900 $98,585 $ 56.13 1,775 10.9 $66,545,041 89032 365 $82,000 $89,418 $ 54.60 1,636 14.3 $32,637,638 89044 146 $174,500 $216,515 $ 96.26 2,242 5.4 $31,611,218 89052 421 $200,000 $242,330 $ 102.66 2,228 9.1 $102,020,998 89074 414 $135,000 $155,019 $ 76.91 1,955 16.9 $64,177,864 89081 334 $104,050 $110,637 $ 54.46 2,038 6.1 $36,952,761 89084 241 $135,100 $141,208 $ 65.41 2,149 6.0 $34,031,082 89085 40 $175,424 $187,258 $ 73.32 2,588 4.6 $7,490,323 89086 41 $119,550 $122,916 $ 53.38 2,335 6.0 $5,039,569 89101 128 $42,000 $56,426 $ 44.25 1,294 47.4 $7,222,567 89102 142 $75,000 $96,502 $ 60.99 1,594 36.9 $13,703,287 89103 366 $68,500 $103,994 $ 83.37 1,273 24.4 $38,061,981 89104 183 $56,000 $64,175 $ 42.22 1,505 43.7 $11,744,001 89106 120 $47,000 $51,001 $ 39.36 1,344 28.1 $6,120,162 89107 295 $52,737 $66,233 $ 42.75 1,473 42.4 $19,538,754 89108 520 $62,000 $70,262 $ 48.29 1,416 26.7 $36,536,327 89109 246 $146,050 $203,310 $ 182.99 1,106 17.1 $50,014,279 89110 433 $58,000 $75,532 $ 46.02 1,551 24.9 $32,705,425 89113 262 $116,500 $158,822 $ 80.32 1,708 10.4 $41,611,361 89115 245 $49,000 $57,156 $ 40.20 1,383 17.3 $14,003,224 89117 408 $145,000 $174,126 $ 76.91 2,036 18.0 $71,043,321 89118 145 $81,000 $103,726 $ 65.64 1,481 15.2 $15,040,212 89119 176 $53,801 $66,989 $ 48.95 1,326 30.0 $11,790,109 89120 169 $85,000 $111,441 $ 55.64 1,836 27.7 $18,833,559 89121 385 $65,000 $75,866 $ 45.28 1,647 35.0 $29,208,259 89122 443 $75,000 $80,350 $ 52.43 1,506 13.4 $35,595,007 89123 478 $116,000 $127,316 $ 77.08 1,631 12.2 $60,857,250 89124 1 $115,000 $115,000 $ 0.00 0 0.0 $115,000 89128 379 $82,500 $103,348 $ 62.00 1,539 18.6 $39,168,825 89129 504 $115,000 $136,920 $ 68.06 1,965 11.7 $69,007,680 89130 285 $110,240 $123,166 $ 66.01 1,831 15.2 $35,102,317 89131 448 $138,875 $165,705 $ 70.68 2,289 8.6 $74,235,786 89134 201 $155,000 $192,786 $ 100.80 1,842 16.8 $38,749,945 89135 258 $189,950 $328,794 $ 119.41 2,382 8.1 $84,828,881 89138 156 $213,751 $235,743 $ 101.64 2,264 6.5 $36,775,846 89139 360 $120,900 $134,304 $ 71.77 1,854 6.9 $48,349,602 89141 302 $153,790 $204,322 $ 80.23 2,448 7.4 $61,705,343 89142 256 $70,000 $78,374 $ 50.44 1,506 16.3 $20,063,648 89143 131 $120,000 $134,990 $ 64.40 2,077 9.2 $17,683,717

Q3 2011 Las Vegas Housing Summary Page 30 Copyright©SalesTraq™ 2011 89144 174 $145,000 $211,631 $ 97.18 1,994 11.5 $36,823,723 89145 284 $72,700 $161,915 $ 67.89 1,606 22.6 $45,983,981 89146 91 $125,000 $138,077 $ 61.76 2,055 31.5 $12,565,014 89147 410 $101,750 $111,978 $ 68.80 1,565 16.5 $45,910,806 89148 433 $130,100 $149,809 $ 75.25 1,948 7.2 $64,867,134 89149 346 $105,000 $131,717 $ 65.78 1,922 8.0 $45,574,250 89156 243 $65,000 $73,615 $ 48.23 1,502 16.9 $17,888,534 89161 1 $321,049 $321,049 $ 103.50 3,102 34.0 $321,049 89166 90 $117,750 $133,948 $ 68.17 1,898 4.3 $12,055,348 89169 72 $60,000 $73,089 $ 43.35 1,654 46.1 $5,262,435 89178 399 $142,000 $154,371 $ 71.81 2,123 4.7 $61,594,148 89179 43 $144,200 $157,305 $ 72.66 2,184 4.1 $6,764,110 89183 318 $115,000 $129,008 $ 71.55 1,794 8.7 $41,024,608

16.5 15,534 $104,000 $130,005 $ 68.55 1,785 $2,019,497,830

DATE Total Closings Median Price Avg $/Sq Ft Q1 07 1,303 $266,308 $153.30 Q2 1,823 $265,857 $152.15 Q3 2,348 $261,892 $151.30 Q4 3,403 $253,357 $148.00 Q1 08 4,510 $228,111 $136.72 Q2 6,719 $195,167 $124.06 Q3 7,432 $176,732 $114.16 Q4 6,644 $156,343 $102.52 Q1 09 6,448 $146,513 $97.91 Q2 5,531 $128,892 $92.12 Q3 6,804 $126,441 $88.42 Q4 5,057 $128,637 $90.56 Q1 10 4,272 $132,418 $92.96 Q2 6,649 $140,077 $97.99 Q3 5,775 $142,750 $99.27 Q4 5,319 $124,806 $91.41 Q1 11 6,069 $123,361 $88.58 Q2 8,239 $118,900 $85.54 Q3 5,911 $120,327 $84.16 Includes all structure types: SFR, TH/Condo, Mid Rise, Hi Rise, Mobile

Las Vegas Metro Market $300,000 9,000

$250,000 7,500

$200,000 6,000 Foreclose

Price

$150,000 4,500 in Lost

$100,000 3,000 Median

$50,000 1,500 Homes $0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 07 08 09 10 11 Includes Las Vegas, North Las Vegas, Henderson, Portions of unincorporated Clark county.

Total DATE Closings Median Price Avg $/Sq Ft Q1 07 35 $279,966 $144.44 Q2 70 $270,083 $149.16 Q3 202 $257,458 $148.32 Q4 225 $245,333 $133.00 Q1 08 2,226 $225,959 $126.73 Q2 4,253 $210,266 $117.01 Q3 5,867 $185,633 $106.82 Q4 5,784 $158,333 $93.95 Q1 09 5,987 $131,858 $80.01 Q2 8,007 $114,333 $71.95 Q3 8,200 $108,333 $70.87 Q4 6,654 $114,000 $73.49 Q1 10 4,892 $118,000 $75.08 Q2 4,861 $122,700 $77.48 Q3 4,975 $115,667 $75.21 Q4 5,087 $110,054 $70.57 Q1 11 5,362 $105,000 $68.22 Q2 6,651 $103,000 $66.62 Q3 7,135 $100,500 $65.66 Includes all structure types: SFR, TH/Condo, Mid Rise, Hi Rise, Mobile

Las Vegas Metro Market $300,000 9,000 Sold

$250,000 7,500

$200,000 6,000 Homes Price

$150,000 4,500 (REO) $100,000 3,000 Median

$50,000 1,500 Owned

$0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 07 08 09 10 11 Bank Includes Las Vegas, North Las Vegas, Henderson, Portions of unincorporated Clark county.

DATE Total Closings Median Price Avg $/Sq Ft Q1 07 Q2 Q3 Q4 Q1 08 Short Sales Prior to Q2 2009 Not Tracked Q2 Q3 Q4 Q1 09 Q2 1,014 $163,067 $91.32 Q3 1,575 $137,800 $82.61 Q4 2,051 $133,000 $79.73 Q1 10 2,208 $124,333 $76.53 Q2 3,145 $121,483 $74.91 Q3 2,876 $123,150 $74.12 Q4 2,569 $124,167 $74.23 Q1 11 2,520 $120,833 $74.87 Q2 2,544 $118,333 $70.26 Q3 2,575 $116,500 $68.94 Includes all structure types: SFR, TH/Condo, Mid Rise, Hi Rise, Mobile

Las Vegas Metro Market 175000 3500

150000 3000

125000 2500

Price 100000 2000 Short Sales Prior to Q2 2009 Not Tracked Sales 75000 1500 Short

Median 50000 1000

25000 500

0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 07 08 09 10 11 Includes Las Vegas, North Las Vegas, Henderson, Portions of unincorporated Clark county.

DATE Total Closings Median Price Avg $/Sq Ft Q1 07 129 $198,000 $137.74 Q2 152 $220,246 $122.97 Q3 188 $219,337 $133.03 Q4 186 $215,888 $135.44 Q1 08 228 $189,712 $118.17 Q2 327 $185,481 $113.85 Q3 349 $175,918 $103.42 Q4 345 $149,846 $89.32 Q1 09 410 $146,332 $80.75 Q2 674 $99,045 $64.32 Q3 1,115 $101,367 $63.38 Q4 1,326 $98,323 $62.16 Q1 10 1,206 $102,067 $65.29 Q2 1,264 $97,700 $65.31 Q3 1,314 $99,483 $64.06 Q4 1,177 $91,967 $60.10 Q1 11 1,414 $90,033 $60.55 Q2 2,214 $91,167 $58.90 Q3 1,823 $89,557 $58.85 Includes all structure types: SFR, TH/Condo, Mid Rise, Hi Rise, Mobile

Las Vegas Metro Market $250,000 2,400

$200,000 1,800 Auction $150,000 Price

at 1,200 $100,000 Sold

Median 600 $50,000 Homes

$0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 07 08 09 10 11 Includes Las Vegas, North Las Vegas, Henderson, portions of unincorporated Clark county.

DATE Total Closings Median Price Avg $/Sq Ft Q1 07 7,058 $286,167 $188.02 Q2 6,812 $280,667 $185.96 Q3 5,161 $272,833 $180.10 Q4 3,930 $254,483 $169.28 Q1 08 2,647 $245,700 $162.34 Q2 3,260 $243,967 $151.38 Q3 3,623 $222,574 $136.98 Q4 3,220 $193,045 $117.87 Q1 09 2,995 $158,333 $99.28 Q2 3,725 $137,520 $88.91 Q3 3,382 $147,141 $92.33 Q4 3,810 $127,667 $84.98 Q1 10 3,776 $119,500 $82.44 Q2 4,256 $132,000 $88.12 Q3 3,667 $126,633 $87.09 Q4 4,164 $123,250 $82.54 Q1 11 3,749 $110,000 $78.38 Q2 4,273 $114,000 $79.01 Q3 3,969 $109,774 $78.09 Includes all structure types: SFR, TH/Condo, Mid Rise, Hi Rise, Mobile

Las Vegas Metro Market $350,000 7,500 Sales

$280,000 6,000

$210,000 4,500 Home Price

$140,000 3,000 Median

$70,000 1,500 Distressed ‐

$0 0 Non Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 07 08 09 10 11 Includes Las Vegas, North Las Vegas, Henderson, portions of unincorporated Clark county.

89085 89087 89166 25% 4,128 23% 292 N/A 11% 381 21% 3,181 89084 89086 89166 23% 1,926 33% 323 89149

21% 2,501 89031 89081 28% 2,563 14% 1,632 23% 5,001 25% 2,135

18% 3,089

25% 3,021 18% 1,527 5% 674 23% 1,625 17% 2,239

21% 3,719 20% 1,051 15% 1,502 16% 864 19% 858 12% 867 19% 3,111 18% 1,882 17% 1,284 23% 1,965 7.914% Months 821 13% 2,218 14% 632 12% 1,384

15% 1,831 89169 15% 2,271 16% 2,628 16% 357 23% 2,896 11% 1,119 16% 1,088

15% 1,093 16% 911 14% 991 89014 14% 1,370 89139 89015 23% 3,381 17% 1,574 26% 2,829 89074 19% 2,594 89123 13% 2,193 17% 3,549 89178 89012 23% 2,592 89002 11% 1,232 89183 12% 1,221 19% 1,846 89179 89124 16% 217 24% 2,261 N/A Source: SalesTraq™ 12% 2,427