The document summarizes home sales data from the Arizona Regional Multiple Listing Service from 2006 to 2008. It shows that home sales peaked in 2006 at over 104,000 but then declined each subsequent year, dropping to 54,823 in 2008. Median home prices also declined over this period, falling from $258,000 in 2006 to $190,000 in 2008.

2. ARIZONA REGIONAL MULTIPLE LISTING SERVICE, INC. Home Sales Per Month 104,725 74,486 54,823 60,205

3. ARIZONA REGIONAL MULTIPLE LISTING SERVICE, INC. Home Sales Per Quarter and Half 104,725 74,486 54,823 60,205

4. Median Price 2006: $258,000 2007: $250,000 2008: $190,000 ARIZONA REGIONAL MULTIPLE LISTING SERVICE, INC. Home Sales Median Price Per Month

5. Average Price 2006: $334,800 2007: $336,600 2008: $248,000 ARIZONA REGIONAL MULTIPLE LISTING SERVICE, INC. Average Sales Price Per Month

6. Q3 Q4 2008: $235,300 $203,700 Average Price Breakdown 1 st Half 2 nd Half 2006: $338,100 $331,000 2007: $343,700 $326,700 2008: $281,500 $220,600 2006: $334,800 2007: $336,600 2008: $248,000

7. ARIZONA REGIONAL MULTIPLE LISTING SERVICE, INC. 2008 Home Sales 60,205 ARIZONA REGIONAL MULTIPLE LISTING SERVICE, INC. 2008 Home Sales – REO Breakdown 20,535 1,157

8. ARIZONA REGIONAL MULTIPLE LISTING SERVICE, INC. REO - Fourth Quarter Home Sales 20,535 1,157 60,205 42% 45% 52% 34%

9. ARIZONA REGIONAL MULTIPLE LISTING SERVICE, INC. Current Active Listings 24%

10. ARIZONA REGIONAL MULTIPLE LISTING SERVICE, INC. Current Pending and 12/08 Sales 52% 59%

11. ARIZONA REGIONAL MULTIPLE LISTING SERVICE, INC. ALL Listings vs REO Listings