July new home sales
New home sales in the Baltimore metro area dropped 42 percent in July from a year earlier, to 230, according to Hanley Wood Market Intelligence. That includes the impact of deals falling through, which is continuing to happen with regularity. Almost a quarter of buyers backed out of their contracts in July, the company said.
Both the average and median base sales price rose -- the median was up 11 percent, to nearly $390,000 -- but Hanley Wood said this reflected "a shift in unit mix." The company's figures include subdivisions of 10 units or more in Baltimore and the counties of Anne Arundel, Baltimore, Carroll, Harford, Howard and Queen Anne's.
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Comments
Sales are down and prices are up?
Wait... Even though the stock market is down, Baltimore empoyment is solid with a 5.3% salary increase per year?
I am way confused.
Even your negative slant is hard for me. I know you live in Howard County and never left, that bust has been late relative to the market.
In the City we busted a long time ago. Is this the Howard County blog? Remember you live in the 4th richest county in the country.
Posted by: Dunn | September 23, 2008 5:00 PM
Prices can go up for many reasons. In this case, Hanley Wood says a change in the types of homes selling is a significant part of the reason, a tidbit of information I included in the post.
I grew up in Columbia, but I haven't lived in Howard County for years. And I'm not sure how you would see this as a Howard County blog, considering that I don't have a lot of Howard County information on it.
Posted by: Jamie Smith Hopkins | September 23, 2008 5:06 PM
As I keep saying, Dunn is to be ignored, as are all real estate agents. Basically, if you don't buy one of the houses he has for sale, he attributes ulterior motives to you. Now that's the pot calling the kettle black.
Posted by: Anon | September 23, 2008 5:44 PM