NEW HOME SALES IN THE PORTLAND MARKET AREA FINISH 1999 WITH A STRONG QUARTER

- Multnomah County Leads the Way With 323 New Home Sales During the
4th Quarter of 1999 -

PORTLAND, OR- (February 17, 2000) - The Meyers Group (TMG), the nation's leading provider of new home real estate information, has released Fourth Quarter 1999 results for the Portland market area. In the Fourth Quarter of 1999 (mid-October through mid-January), new home sales increased 7.7 % in comparison to the Fourth Quarter of 1998. Overall, Fourth Quarter 1999 new home sales totaled 1,342 units while, year-end new home sales in the Portland market area totaled 6,884 units.

According to Byron Sibson, account executive with The Meyers Group, "Its a very competitive market place out there. Continuing the trend that has been in place throughout the year, inventory levels declined during the Fourth Quarter of 1999. The overall total inventory for the market was 3,471 units, a dramatic decrease (36.6%) from the 5,474 units available at the end of the Third Quarter of 1999, suggesting that this very competitive market will persist."

» New home sales increased 7.7% in comparison to the Fourth Quarter of 1998,
and decreased 20.5% from the previous quarter.

» Inventory decreased 46.3% in comparison to the Fourth Quarter of 1998
and decreased 36.6% from the previous quarter.

» Median detached new home prices rose 6.7% over last year's Fourth
Quarter and increased 15.3% over the previous quarter.

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 has 40 offices located in 23 states throughout the county.

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 Summaries are Available upon Request

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