WASHINGTON NEW HOME SALES SEE A SALES DIP DURING JANUARY 2000

- January sees more Expensive Move-up Units Sold During the First Month of the Year -

WASHINGTON - (March 15, 2000) - The Meyers Group (TMG), a leading provider of new home real estate information, has released its January 2000 results for the Washington metropolitan market area. In January of 2000, new home sales decreased 15.4% in comparison to January of 1999. Overall, reported net new home sales totaled 1,885 compared to the 2,229 new home sales in 1999.

According to Patrick Crowley, Senior Consultant with The Meyers Group, "Metro Washington's average prices were up across the board during the month of January 2000 as compared to a year ago, while overall activity slowed. Decreased activity in the entry level price sectors, likely due to higher interest rates than a year ago, occurred during January. In the single family and townhouse sectors, the average unit sizes increased from January 1999, indicating that a higher proportion of more expensive move-up units sold during the first month of this year, attesting to the continued popularity of Metro Washington's new housing market."

» Overall Net Sales for the Washington metropolitan area were down 15.4% compared to January 1999.

» Overall single family net sales for the Washington metropolitan area were down 17.1% compared to January of 1999.

» Overall townhouse net sales for the Washington metropolitan area were down 8.1% 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.

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*Complete Executive Summary Reports are available from The Meyers Group upon request.

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