Investor Presentaiton

Up to $150,000 MARKET CONDITIONS HOMES SOLD BY PRICE, 12 LARGEST CITIES $350,001 to $500,000 $150,001 to $250,000 ■Over $500,000 $250,001 to $350,000 In North Dakota's 12 largest cities, in 2% 3% 4% 4% 4% 5% 5% 5% 7% 10% 7% 8% 9% 9% 9% 9% 10% 11% 16% 13% 19% 23% 25% 25% 25% 26% 27% 27% 28% 41% 42% 43% 44% 44% 45% 44% 41% 40% 35% in 2021. 36% 29% 22% 18% 19% 17% 16% 17% 15% 13% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2012, just 2% of homes sold for over $500,000 compared to 10% By contrast, 36% of homes sold for less than $150,000 in 2012 compared to 13% in 2021. Source: Multiple Listing Services of North Dakota (2022)

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