1. Atlanta New Housing Market Review

2. THE COMPANY 30 year history and experience Serving 35 markets nationwide Leading provider of primary and secondary market information to the homebuilding and related industries

3. 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.

4. 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.

5. Salt Lake No. Cal. So. Cal. Denver Phoenix Tucson DFW Austin San Antonio Houston South Fla. North Fla. Tampa Bay Naples Chicago DC-MD-NVA Raleigh Charlotte Atlanta

6. ATLANTA HOUSING MARKET

7. National Economic Overview HOUSING AFFORDABILITY $60K Household Income

8. North Atlanta Housing Market

9. NORTH ATLANTA HOUSING MARKET

15. South Atlanta Housing Market

16. SOUTH ATLANTA HOUSING MARKET

22. ATLANTA TOP COMMUNITIES RANKED BY SALES

23. ATLANTA TOP COMMUNITIES RANKED BY SALES

24. UNDER $150,000 $150,000 to $ 200,000 $200,000 to $300,000 $300,000 to $400,000 ATLANTA CLOSINGS by Price Range $$400,000+OVER $450,000 7%8% 37% 30% 27% 29 % 21% 23 % 8% 9% 2Q 20042Q 2003

25. ATLANTA HOUSING MARKET

26. …now you know