Sales Volume Beats Last Year’s Levels with Modest Increases

Rockville, MD – (October 10, 2011) – The following analysis of the Baltimore, Maryland, metro area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on the September 2011 RBI Pending Home Sales Index™ released today.

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OVERVIEW

September 2011 home sales in the Baltimore metro area edged out the September 2010 totals by the thinnest of margins. September sales this year of $513 million were a 0.7% increase over September 2010 sales of $509 million. And total units sold this September of 1,873 were 1.35% higher than the 1,848 units sold in September 2010.  However, new contacts written in September 2011 were 2,022, ahead of September 2010 by 11.9% and ahead of the last five year September average by 3.4%.

For the rest of 2011, year over year comparisons will continue to see the impact of last year’s tax credit.  The tax credit incentive moved sales ahead of the seasonal buying cycle and sales which would have otherwise occurred in Q3 and Q4, were incented to go under contract by April 30, 2010 to receive the credit.

Rockville, MD –(August 10, 2011) – The following analysis of the Baltimore Metro Area housing market has been prepared by housing market expert Jonathan Miller of Miller Samuel, based on the July 2011 RBI Pending Home Sales Index™ released today:

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OVERVIEW

More sales contracts were signed in Baltimore last month than any July since 2007 but prices still fell 4.5 percent—the first monthly decline since March.  On a month-to-month basis, sales activity dropped more than the seasonal average, suggesting demand is weakening. July sales contracts fell 6.9 percent from June but they are still 24.5 percent above July 2010.