Greater Las Vegas Snapshot by Sale Type Last Month's Sold

Available Units Pending Units Las Vegas Market Update - April 2018 Greater Las Vegas Snapshot by Sale Type Last Month's Sold Units Median List Price Average List Price Median Sold Price Average Sold Price Months of Inventory 30 Day Absorption Rate Average DOM SFR 4,053 4,450 3,159 375,000 626,206 280,000 330,608 1.3 77.9% 35 CON/TWH 821 970 737 159,000 198,839 162,000 171,735 1.1 89.8% 24 Total Residential 4,874 5,420 3,896 234,900 298,401 210,000 243,786 1.3 79.9% 55 Hi-Rise 368 147 90 416,200 712,280 324,200 431,462 5.1 24.5% 103 Multiple Dwelling 74 72 55 292,500 297,725 282,500 295,736 1.3 74.3% 56 Vacant Land 2,241 175 164 66,500 332,593 40,000 162,077 13.7 7.3% 196 YTD Months Available Pending Median List Average Median Average Absorption Average Sold of Units Units Price List Price Sold Price Sold Price Rate DOM Units Inventory Luxury Sales (RES & VER) $1M+ 457 89 120 1,725,000 2,654,993 1,407,300 1,976,684 11 3.8% 104 This data includes all GLVAR listings and sales within the Greater Las Vegas market area.

Jan-12 Mar-12 May-12 Jul-12 Sep-12 Nov-12 Jan-13 Mar-13 May-13 Jul-13 Sep-13 Nov-13 Jan-14 Mar-14 May-14 Jul-14 Sep-14 Nov-14 Jan-15 Mar-15 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 Jul-17 Sep-17 Nov-17 Jan-18 Mar-18 Las Vegas Market Update - April 2018 Greater Las Vegas SFR Average List vs Closed Sale Prices 410,000 400,000 396,627 R12 Ave Available R12 Ave Sold Average Over Pricing is $41,792 401,776 390,000 383,102 380,000 370,000 360,000 350,000 339,552 359,984 340,000 330,000 "R12 Ave" is a Rolling 12 Month Average of the Prices This chart is based on SFR listings with a 320,000 List Price between $250,000 and $1,000,000 310,000 The Index is based on the Percentage of SFR listings that have been on the market for more than 30 days 300,000

Jan-12 Mar-12 May-12 Jul-12 Sep-12 Nov-12 Jan-13 Mar-13 May-13 Jul-13 Sep-13 Nov-13 Jan-14 Mar-14 May-14 Jul-14 Sep-14 Nov-14 Jan-15 Mar-15 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 Jul-17 Sep-17 Nov-17 Jan-18 Mar-18 Las Vegas Market Update - April 2018 Greater Las Vegas CON/TWN Average Original List vs Closed Sale Prices 200,000 R12 Ave Original List R12 Ave Sold 180,000 171,458 160,000 140,000 Average Over Pricing is $18,547 152,911 120,000 100,000 80,000 60,000 40,000 20,000 78,328 63,302 "R12 Ave" is a Rolling 12 Month Average of the Prices This chart is based on Condo/Townhome listings with an Original List Price below $1,000,000 The Index is based on the Percentage of CON/TWN listings that have been on the market for more than 30 days -

SFR Closed Sales in Selected Communities - Last Six M onths Oct Nov Dec Ave Jan Months of Feb Mar Sparklines Days 2018 Inventory to Sell Aliant e 28 21 25 23 17 31 1 32 Ant hem 24 17 24 12 12 23 2 50 Cent ennial Hills 24 26 29 21 20 35 1 36 Desert /Sout h Shores 26 15 23 10 21 21 2 25 Green Valley 53 36 43 42 35 61 1 25 Green Valley Ranch 9 22 11 10 17 20 2 21 Inspirada 30 11 11 13 13 25 1 48 Iron Mount ain Ranch 12 10 9 9 7 11 2 15 Mount ains Edge 85 56 57 50 51 80 1 24 Peccole Ranch 16 14 13 9 10 19 1 33 Providence 47 38 41 30 38 43 1 20 Red Rock Count ry Club 10 5 4 4 7 10 5 34 Rhodes Ranch 30 23 24 17 11 26 3 58 Seven Hills 15 9 20 17 17 16 3 28 Siena (SFR & TWH) 11 9 11 16 14 26 2 76 Silverado Ranch 43 39 33 31 26 34 2 24 Sout hern Highlands 48 38 47 32 38 37 3 65 Spring Valley 26 33 24 24 16 18 3 29 Summerlin 60 61 50 40 39 67 2 53 Sun Cit y Ant hem 33 31 28 25 26 35 3 70 Sun Cit y Summerlin 40 40 34 29 44 40 1 29 The Lakes 13 19 15 14 15 19 2 52 Ot her Groups Boulder Cit y 25 16 16 13 10 23 3 64 Pahrump/Ny e 46 36 51 50 47 52 3 46 High Rise Sales 94 80 85 64 78 90 5 103 Luxury Sales ($1M+) 40 39 46 25 51 45 11 82

SFR Closed Average Sales Prices in Selected Communities - Last Six Months October November December January 2018 February March Aliant e 298,046 310,467 309,216 317,300 312,141 334,667 Ant hem 396,720 420,553 426,513 427,833 379,942 415,641 Cent ennial Hills 314,457 319,050 374,963 311,114 331,323 314,114 Desert /Sout h Shores 370,112 364,983 340,648 310,989 410,630 362,829 Green Valley 323,157 331,959 346,885 370,512 412,891 345,843 Green Valley Ranch 413,322 345,750 306,973 434,200 404,971 405,496 Inspirada 396,205 424,470 425,231 440,511 371,935 403,043 Iron Mount ain Ranch 297,917 279,095 338,722 261,822 261,500 302,590 Mount ains Edge 315,382 294,820 311,618 311,822 313,489 315,927 Peccole Ranch 311,856 310,538 324,485 335,722 330,199 341,184 Providence 292,129 289,771 291,317 299,256 307,628 310,823 Red Rock Count ry Club 1,075,697 1,075,697 1,216,250 1,100,000 1,490,000 1,348,300 Rhodes Ranch 362,050 391,000 358,663 349,829 364,715 388,861 Seven Hills 561,544 825,667 578,995 639,641 647,618 601,784 Siena 448,364 402,403 427,000 504,154 495,855 445,654 Silverado Ranch 280,914 280,416 253,261 293,097 301,917 302,435 Sout hern Highlands 599,998 586,131 486,636 517,648 819,786 442,603 Spring Valley 272,999 297,754 267,680 276,010 267,094 262,417 Summerlin 507,260 501,881 469,434 517,523 455,992 845,897 Sun Cit y Ant hem 397,145 432,765 410,725 416,893 416,823 390,997 Sun Cit y Summerlin 318,167 320,911 324,766 335,193 302,522 371,135 The Lakes 324,838 329,957 345,387 467,114 372,950 344,394 Ot her Groups Boulder Cit y 380,471 300,425 444,616 344,154 364,350 316,278 Pahrump/Ny e 212,572 219,212 218,016 206,323 214,400 212,194 High Rise Sales 362,476 480,586 625,043 533,857 665,591 431,462 Luxury Sales ($1M+) 2,063,120 1,875,544 1,940,647 1,895,827 1,975,000 2,026,234 Price Movement

SINGLE FAMILY RESIDENTIAL CLOSINGS Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2522 2437 2492 2441 2818 2604 2574 2803 2922 2985 2684 3192 1644 2498 1935 3331 1547 2183 2803 3397 1689 1865 2718 1466 3240 1739 2084 2923 1317 3552 2097 2783 1656 1919 2983 3318 879 1205 1996 1427 968 1229 2183 2545 3204 974 1332 1924 2505 2510 3096 990 2160 1325 1316 2592 1776 2537 3267 2041 2556 1572 1318 1852 2957 1476 2226 1384 2089 2413 2266 1345 1838 3460 1568 2026 1828 3127 1303 1616 2187 2521 1381 1794 1164 1602 1656 2431 1605 1740 2038 1431 1787 1478 1213 1281 1407 937 1098 779 1117 1340 1749 2217 1985 1778 1397 983 3420 3456 2961 3117 3117 3159 2661 2379 3535 2777 3118 2995 2201 2691 2227 2599 3242 3358 2666 2636 2031 2806 2669 3076 3229 3706 2417 2819 2930 2887 3738 3164 2948 2943 3212 3629 3785 3360 2964 3413 3111 3255 2884 3074 3185 2951 3084 3198 3049 3534 3175 3384 2980 2958 3053 2390 2591 2288 2639 2627 2720 2602 2606 2974 1977 2624 2922 2441 2935 2720 3308 2379 3114 2867 3141 2568 2838 3178 2642 3677 3273 2675 3056 3525 3068 2823 2751 2870 2613 2753 2870 3210 3159 2537 2706 2799 2008 1966 2117 2263 2134 2224 2608 2509 2931 2284 2068 1793 1885 2150 2266 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

CONDO / TOWNHOME CLOSINGS Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 776 805 718 674 726 586 674 704 586 609 521 688 850 708 800 543 493 580 665 603 859 703 544 565 443 919 572 658 570 410 434 742 586 810 615 799 612 497 532 732 595 725 546 512 688 864 613 656 843 691 544 555 610 824 656 796 917 678 789 613 575 716 690 657 549 582 785 737 810 742 657 710 674 565 557 663 727 649 651 846 728 775 544 624 711 737 609 604 506 647 562 623 691 680 442 529 567 578 461 437 516 440 594 621 600 479 461 408 429 531 554 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Vertical / Hi-Rise Closings Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 85 76 80 50 59 66 68 74 68 91 76 86 89 84 77 44 68 45 70 53 56 62 58 59 62 69 70 75 83 64 65 86 79 74 61 63 60 58 93 94 77 72 62 48 77 61 83 45 56 77 92 56 53 71 61 51 75 101 53 61 58 55 82 82 50 56 81 77 60 63 57 90 56 93 92 63 50 78 70 49 53 54 37 40 45 51 64 2011 2012 2013 2014 2015 2016 2017 2018

Greater Las Vegas Luxury Sales $1,000,000 and Over Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 500 450 400 350 300 250 200 150 100 50 0 46 39 40 28 27 28 35 22 33 26 31 36 35 19 26 31 24 27 24 44 23 23 27 25 26 27 25 45 29 17 33 20 25 17 35 10 36 35 56 8 35 27 20 26 36 20 27 33 32 45 27 19 19 11 28 30 34 45 32 19 51 25 15 20 26 24 25 14 8 25 20 18 17 19 25 2012 2013 2014 2015 2016 2017 2018

SFR Market Prices 500,000 450,000 400,000 350,000 330,605 300,000 250,000 280,000 200,000 150,000 100,000 50,000 - Average Median

$350,000 SFR Average Price and Year Over Year Percent Change 40% $300,000 29% 30% $250,000 20% $200,000 8% 11% 7% 5% 11% 9% 10% -1% 0% $150,000-8% -10% $100,000-20% $50,000-30% -30% $0 2008-2009 2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016 2016-2017 2017-2018-YTD -40% Ave Pct Change

Last Month's Closings by Type REO 1% Traditional Equity 97% Short Sales 2%

Closed Units by Price Point 250-400K 41% 400-700K 11% 700K+ 3% <250K 45%

CLOSED VOLUME BY PRICE POINT 400-700K 18% 700K+ 12% <250K 28% 250-400K 42%

Last Month's Closings by Sold Terms FHA 14% VA 7% Other 2% Cash 26% Conv 51%

Closings By Sold Terms Closings Less Than $250,000 FHA 19% VA 5% Other 1% Cash 34% Conv 41%

Closings By Sold Terms Closings Between $250,000 and $400,000 FHA 14% VA 10% Other 1% Cash 18% Conv 57%

Closings By Sold Terms Closings Between $400,000 and $700,000 FHA 0% VA 8% Other 2% Cash 21% Conv 69%

10,000 Single Family Residences (SFR) Supply vs Demand 9,000 8,000 7,000 6,000 5,000 Available 4,000 3,000 2,000 1,000 Sold -

6000 Residential Listings Taken vs Listings Sold 5000 4000 Listed 3000 2000 1000 Sold 0

Jan-06 May-06 Sep-06 Jan-07 May-07 Sep-07 Jan-08 May-08 Sep-08 Jan-09 May-09 Sep-09 Jan-10 May-10 Sep-10 Jan-11 May-11 Sep-11 Jan-12 May-12 Sep-12 Jan-13 May-13 Sep-13 Jan-14 May-14 Sep-14 Jan-15 May-15 Sep-15 Jan-16 May-16 Sep-16 Jan-17 May-17 Sep-17 Jan-18 Units Las Vegas Market Update - April 2018 Closed Units By Price Point 0-100K 100-250K 250-500K 3000 2500 2000 1500 1000 500 0

Residential Closed Units Trend by Price Point 0-250K 250-750K 0-250K Trend 250-750K Trend 5000 4000 3000 2000 1000 0-1000