x Welcome to a new phase in Market Pulse. Instead of releasing preliminary figures on the first on each month, we will now be releasing Market Pulse mid-month in order to give you the most accurate up-to-date figures available. As you know, many month-end closings are not entered into the MLS until after the first of the month, and Market Pulse was not able to pick those up. This new process will allow the statistics on our website and those used by the media and economic reporting agencies to be in sync. If you have any questions, do not hesitate to drop us a line.
	Orange & Seminole Counties* Avg. Mtg. Rate Inventory New Listings Sales Pending Back on Market Expired Withdrawn Sales Closed Avg. Days on Market Sept.03 6.64% 7,247 3,095 2,108 305 353 731 1,859 59 Oct.03 6.29% 7,308 3,276 2,151 489 304 761 1,906 59 Nov.03 6.23% 6,973 3,266 2,424 236 269 777 2,254 60 Dec.03 5.38% 6,522 2,280 1,992 307 474 585 2,082 61 Jan.04 5.38% 6,605 3,403 2,619 306 305 682 1,512 66 Feb.04 5.45% 6,182 2,918 2,632 363 326 659 1,405 61 Mar.04 5.25% 5,634 3,444 3,387 372 268 696 2,081 59 Apr.04 6.04% 4,995 3,212 3,403 391 197 696 2,036 57 May.04 6.31% 4,650 3,322 3,348 450 162 626 2,131 53 June.04 6.31% 4,360 3,186 3,142 443 164 690 2,526 47 July.04 5.88% 4,128 3,190 2,565 418 149 657 2,421 41 Aug.04 5.69% 3,940 2,652 2,153 359 139 585 1,960 39 Sept.04 5.73% 3,938 1,850 1,634 230 165 446 1,588 39 * Based on raw data from the MFRMLS Hotsheet reports. Refined figures may be found under Housing Statistics at orlrealtor.com Membership September 2004 September 2003 Unemployment Rate Orlando MSA ORRA 7,855 6,379 August 2004 4.3% CFCRES 304 314 August 2003 5.0% Affiliates 489 540 Applicants 293 144

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