PHILADELPHIA NEW HOME SALES DIP DURING JANUARY 2000 WHILE PRICES CONTINUE TO RISE

- Rising Prices in the Region's more Developable Areas have led to a Decrease
in Sales in the Region -

PHILADELPHIA, PA - (March 22, 2000) - The Meyers Group (TMG), a leading provider of new home real estate information, has released its January 2000 results for the Philadelphia metropolitan market area. In January of 2000, new home sales decreased 28.5% in comparison to January of 1999. Overall, reported net new home sales totaled 707 compared to the 989 new homes sold in January of 1999.

According to Marni Schatz, Account Executive with The Meyers Group, "Rising prices in the region's more developed areas have led to a decrease in sales in the Region as a whole. However, along the outer fringe, where buildable land is more readily available, prices have remained steady and sales are still going strong."

Philadelphia, PA January 2000	January '00 Net Sales	January '99 Net Sales	%Change	January '00 Average Price	January '99 Average Price	%Change
All Products	707	989	-28.5%	$235,541	$212,267	11.1%
Single Family	521	724	-28.0%	$261,513	$237,628	10.1%
Townhouse/Plex	170	220	-22.7%	$167,004	$149,365	11.8%
Condominium	16	45	-64.4%	$118,039	$111,751	5.6%

Overall Net Sales for the Philadelphia metropolitan area were down 28.5% compared to January 1999.

Overall single family net sales for the Philadelphia metropolitan area were down 28.0% compared to January of 1999.

Overall townhouse net sales for the Philadelphia metropolitan area were down 22.7% compared to January of 1999.

About The Meyers Group
Founded in 1985, The Meyers Group has quickly become the largest provider of new home real estate information in the United States. The company's mission is to deliver the most accurate, timely and technologically advanced information possible via a wide range of products.

The Meyers Group also has a Consulting Services Division that conducts more than 600 feasibility studies in 14 states for the top builders, developers, investors and lenders in the real estate industry. The key management team has over 120 years of combined real estate experience and holds advanced degrees in economics, business, marketing and psychology.

Clients of The Meyers Group range from homebuilders and land developers to real estate investors, financial institutions, and investment banking firms. The company is regarded as a premier source for new home statistics by major media publications and news organizations around the country. Information about The Meyers Group can be accessed through its Web site at www.meyersgroup.com.

*Complete Executive Summary Reviews are available upon request.

Contact:
Hunter Robbins
The Meyers Group
(310) 656-0084 ext. 225
hrobbins@meyersgroup.com