Salt Lake Real Estate Market Performance in 2014

Total Sales:1. Single family down 1.7% to 11,500 homes.2. Condos unchanged at 3,000 units.

Value of Sales: 1. Single family down 1.5% to $3.35 billion. 2. Condo up 4.4% to $570 million.

Median Sales Price: 1. Single family up 4% to $255,000. 2. Condo up 5% to $175,000.Commission: 1. Up 2% to $235 million.

Quarterly Percent Change in Median Sales Price of Home is SL County

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

-20.0%

-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%

Market Fundamentals

• Strong Job Growth• Low Unemployment Rate• Fewer Underwater Loans• Decline of Foreclosures and Short Sales• Housing Affordability.• Rising Apartment Rents.• Strong National Economy.

Forecast for 2015

• Total Sales up 7 percent to 15,500 units.

• Median Sales Price for Homes and Condominiums up 4 percent.