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. . . . . . . . . 2

Publish Date: February 7, 2011Weekly Activity

Pending Sales . . . . . . . . . 3

Housing market activity in our nation's capital will struggle to clear the high

water mark set during the spring 2010 tax credit. This dynamic reared its

head as sellers placed about 1,100 fewer properties on the market than

they did during the same week in 2010. That made for a 29.8 percent

New Listings

Active Listings

Days on Market Until Sale

Most Recent Month

. . . . . . . . . 8

Percent of Original List Price Received at Sale

. . . . . . . . . 5

Months Supply of Inventory

Housing Affordability Index

. . . . . . . . . 4

decrease and this year's trendline has begun to diverge somewhat from

last year's.

Pending Sales posted their smallest year-over-year gain in over two

months. Buyer activity increased 2.3 percent over year-ago levels,

following seven consecutive weeks of double-digit gains. After hovering

somewhat above it, the current Pending Sales trendline has begun to

converge with the previous year's.

Fortunately, the number of Active Listings for sale continued to fall. Thismetric dropped 6.2 percent from a year prior to just under 54,000 homes.

That's the sixth consecutive week of inventory drops a factor that will help

maintain price stability even as we're comparing a non-incentive market to

an incentive market. . . . . . . . . . 7

. . . . . . . . . 6

All data provided by RealEstate Business Intelligence, LLC | An MRIS company

Reports are created and maintained by 10K Research and Marketing. Data current as of 2/7/2011. This report may be reproduced by MRIS members. 1

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New ListingsAs of February 7, 2011

Last Three Months Weekly New Listings

3,180 3,324 - 4.3%

3,170 3,274 - 3.2%

2,882 3,020 - 4.6%

1,780 1,931 - 7.8%

2,897 2,978 - 2.7%

2,662 2,789 - 4.6%2,349 2,209 + 6.3%

1,656 1,295 + 27.9%

1,597 1,875 - 14.8%

3,159 3,400 - 7.1%

3,068 3,644 - 15.8%

3,066 3,618 - 15.3%

2,620 3,730 - 29.8%

34,086 37,087 - 8.1%3-Month Total:

1/29/2011

1/22/2011

12/4/2010

12/11/201012/18/2010

12/25/2010

1/1/2011

1/8/2011

1/15/2011

11/13/2010

11/20/2010

11/27/2010

For the week

ending:

11/6/2010

One Year

Ago

One Year

Change

Current

Activity

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

Current Activity

One Year Ago

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

11/6/10 11/13/10 11/20/10 11/27/10 12/4/10 12/11/10 12/18/10 12/25/10 1/1/11 1/8/11 1/15/11 1/22/11 1/29/11

Current Activity

One Year Ago

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

1/4/03 5/4/03 9/1/03 12/30/03 4/28/04 8/26/04 12/24/04 4/23/05 8/21/05 12/19/05 4/18/06 8/16/06 12/14/06 4/13/07 8/11/07 12/9/07 4/7/08 8/5/08 12/3/08 4/2/09 7/31/09 11/28/09 3/28/10 7/26/10 11/23/10

Historical New Listings

Compared to Last Year: Down (-)

Compared to 2003: Down (-)

All data provided by RealEstate Business Intelligence, LLC | An MRIS company

Reports are created and maintained by 10K Research and Marketing. Data current as of 2/7/2011. This report may be reproduced by MRIS members. 2

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Pending SalesAs of February 7, 2011

Last Three Months Weekly Pending Sales

2,008 1,866 + 7.6%

1,941 1,798 + 8.0%

2,066 1,829 + 13.0%

1,319 1,290 + 2.2%

1,772 1,709 + 3.7%

1,732 1,558 + 11.2%

1,755 1,471 + 19.3%

1,354 926 + 46.2%

1,250 1,047 + 19.4%

1,671 1,449 + 15.3%

2,056 1,780 + 15.5%

2,201 1,984 + 10.9%

2,135 2,087 + 2.3%

23,260 20,794 + 11.9%

1/1/2011

11/6/2010

1/8/2011

1/15/2011

For the week

ending:

Current

Activity

One Year

Ago

One Year

Change

3-Month Total:

11/13/2010

1/29/2011

1/22/2011

12/4/2010

12/11/2010

11/20/2010

11/27/2010

12/18/2010

12/25/2010

800

1,000

1,200

1,400

1,600

1,800

2,000

2,200

2,400

Current Activity

One Year Ago

800

1,000

1,200

1,400

1,600

1,800

2,000

2,200

2,400

11/6/10 11/13/10 11/20/10 11/27/10 12/4/10 12/11/10 12/18/10 12/25/10 1/1/11 1/8/11 1/15/11 1/22/11 1/29/11

Current Activity

One Year Ago

0

1,000

2,000

3,000

4,000

5,000

1/4/03 5/4/03 9/1/03 12/30/03 4/28/04 8/26/04 12/24/04 4/23/05 8/21/05 12/19/05 4/18/06 8/16/06 12/14/06 4/13/07 8/11/07 12/9/07 4/7/08 8/5/08 12/3/08 4/2/09 7/31/09 11/28/09 3/28/10 7/26/10 11/23/10

Historical Pending Sales

Up (+)

Down (-)

Compared to Last Year:

Compared to 2003:

All data provided by RealEstate Business Intelligence, LLC | An MRIS company

Reports are created and maintained by 10K Research and Marketing. Data current as of 2/7/2011. This report may be reproduced by MRIS members. 3

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Active Listings for SaleAs of February 7, 2011

Last Three Months Weekly Inventory for Sale

67,212 64,633 + 4.0%

65,616 63,226 + 3.8%

65,029 63,138 + 3.0%

64,335 62,819 + 2.4%

63,363 62,402 + 1.5%

62,614 61,189 + 2.3%61,130 60,685 + 0.7%

60,287 60,121 + 0.3%

59,085 59,318 - 0.4%

58,473 58,992 - 0.9%

55,281 56,367 - 1.9%

55,099 56,834 - 3.1%

54,606 57,200 - 4.5%

53,959 57,505 - 6.2%

11/20/2010

One Year

Change

12/18/2010

1/15/2011

11/13/2010

12/11/2010

12/25/2010

1/1/2011

11/27/2010

1/22/2011

1/8/2011

1/29/2011

12/4/2010

11/6/2010

Inventory as of:Current

Inventory

One Year

Ago

10/30/2010

52,500

55,000

57,500

60,000

62,500

65,000

67,500

70,000

Current Inventory

One Year Ago

59,914 59,984 - 0.1%3-Month Avg:52,500

55,000

57,500

60,000

62,500

65,000

67,500

70,000

10/30/10 11/6/10 11/13/10 11/20/10 11/27/10 12/4/10 12/11/10 12/18/10 12/25/10 1/1/11 1/8/11 1/15/11 1/22/11 1/29/11

Current Inventory

One Year Ago

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

1/11/03 5/11/03 9/8/03 1/6/04 5/5/04 9/2/04 12/31/04 4/30/05 8/28/05 12/26/05 4/25/06 8/23/06 12/21/06 4/20/07 8/18/07 12/16/07 4/14/08 8/12/08 12/10/08 4/9/09 8/7/09 12/5/09 4/4/10 8/2/10 11/30/10

Historical Weekly Inventory for Sale

Even

Down (-)

Compared to Last Year:

Compared to 2003:

All data provided by RealEstate Business Intelligence, LLC | An MRIS company

Reports are created and maintained by 10K Research and Marketing. Data current as of 2/7/2011. This report may be reproduced by MRIS members. 4

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Days on Market Until Sale

86 124 - 31.2%

86 123 - 30.2%

85 119 - 28.9%

78 110 - 29.5%

74 108 - 31.4%

72 100 - 27.9%71 95 - 24.8%

76 92 - 17.4%

82 91 - 10.4%

83 90 - 7.5%

86 84 + 1.7%

90 85 + 5.9%

81 102 - 20.8%

2-2010

4-2010

3-2010

1-2010

Current

Year

One Year

Previous

One Year

ChangeMonth

5-2010

6-2010

12-Month Avg:

12-2010

8-2010

9-2010

10-2010

11-2010

7-2010

112

8590

12-2008 12-2009 12-2010

December 2010 90

+ 5.9%- 23.9%

U +Com ared to Last Year:

112

8590

12-2008 12-2009 12-2010

0

20

40

60

80

100

120

140

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010

December 2010 90

+ 5.9%- 23.9%

Historical Days on Market Until Sale

Up (+)

Up (+)

Compared to Last Year:

Compared to 2003:

All data provided by RealEstate Business Intelligence, LLC | An MRIS company

Reports are created and maintained by 10K Research and Marketing. Data current as of 2/7/2011. This report may be reproduced by MRIS members. 5

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Percent of Original List Price Received at Sale

93.6% 90.2% + 3.8%

93.9% 90.0% + 4.4%

94.2% 90.4% + 4.1%

94.7% 91.3% + 3.7%

94.9% 92.2% + 2.9%

94.7% 92.9% + 2.0%

94.3% 93.4% + 0.9%

93.6% 93.8% - 0.2%

93.0% 94.1% - 1.2%

92.8% 94.1% - 1.4%

92.5% 94.4% - 2.0%

92.0% 93.9% - 2.0%

93.7% 92.6% + 1.2%

5-2010

6-2010

12-Month Avg:

12-2010

8-2010

9-2010

10-2010

11-2010

7-2010

2-2010

4-2010

3-2010

1-2010

Current

Year

One Year

Previous

One Year

ChangeMonth

90.9%

93.9%

92.0%

80%

82%

84%

86%

88%

90%

92%

94%

96%

98%

100%

12-2008 12-2009 12-2010

December 2010 92.0%

- 2.0%+ 3.3%

Does not account for list prices from any previouslisting contracts or seller concessions.

Historical Percent of Original List Price Received at Sale

90.9%

93.9%

92.0%

80%

82%

84%

86%

88%

90%

92%

94%

96%

98%

100%

12-2008 12-2009 12-2010

88%

90%

92%

94%

96%

98%

100%

102%

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010

December 2010 92.0%

- 2.0%+ 3.3%

Down (-)

Down (-)

Does not account for list prices from any previouslisting contracts or seller concessions.

Compared to Last Year:

Compared to 2003:

All data provided by RealEstate Business Intelligence, LLC | An MRIS company

Reports are created and maintained by 10K Research and Marketing. Data current as of 2/7/2011. This report may be reproduced by MRIS members. 6

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Housing Affordability Index

152 152 + 0.2%

149 155 - 4.4%

149 146 + 2.2%

144 146 - 1.6%

139 136 + 1.7%

132 131 + 1.3%

131 131 + 0.4%

134 134 + 0.1%

142 141 + 0.9%

144 144 - 0.3%

145 147 - 1.2%

148 144 + 2.8%

142 142 + 0.1%

5-2010

6-2010

12-Month Avg:

12-2010

8-2010

9-2010

10-2010

11-2010

7-2010

2-2010

4-2010

3-2010

1-2010

Current

Year

One Year

Previous

One Year

ChangeMonth146 144

148

12-2008 12-2009 12-2010

December 2010 148

+ 2.8%+ 27.7%

The Housin Affordabilit Index measureshousin affordabilit for the MRIS service

Historical Housing Affordability Index

146 144148

12-2008 12-2009 12-2010

90

100

110

120

130

140

150

160

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010

December 2010 148

+ 2.8%+ 27.7%

Even

Up (+)

The Housing Affordability Index measures housing affordability for the MRIS serviceregion. The higher the number, the more affordable our housing is.

An HAI of 120 would mean that the median household income was 120% of thenecessary income to qualify for the median priced home under prevailing interest rates.

Compared to Last Year:

Compared to 2003:

All data provided by RealEstate Business Intelligence, LLC | An MRIS company

Reports are created and maintained by 10K Research and Marketing. Data current as of 2/7/2011. This report may be reproduced by MRIS members. 7

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Months Supply of Inventory

6.1 8.3 - 26.6%

6.1 8.2 - 24.9%

6.2 8.2 - 24.1%

6.6 8.1 - 19.5%

6.7 8.1 - 18.1%

7.0 8.0 - 11.7%

7.3 7.7 - 6.1%

7.5 7.6 - 0.9%

7.5 7.4 + 2.3%

7.7 7.2 + 6.3%

7.5 6.9 + 8.9%

6.9 6.5 + 5.5%

6.9 7.7 - 9.9%

2-2010

4-2010

1-2010

Current

Year

One Year

Previous

One Year

Change

3-2010

Month

5-2010

6-2010

12-Month Avg:

12-2010

8-2010

9-2010

10-2010

11-2010

7-2010

9.1

6.56.9

12-2008 12-2009 12-2010

December 2010 6.9 Months

+ 5.5%- 28.1%

Historical Months Supply of Inventory

9.1

6.56.9

12-2008 12-2009 12-2010

0

2

4

6

8

10

12

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010

December 2010 6.9 Months

+ 5.5%- 28.1%

Up (+)

Up (+)

Compared to Last Year:

Compared to 2003:

All data provided by RealEstate Business Intelligence, LLC | An MRIS company

Reports are created and maintained by 10K Research and Marketing. Data current as of 2/7/2011. This report may be reproduced by MRIS members. 8