Sales of new homes fell 29 percent last year in the Baltimore metro area, according to Hanley Wood Market Intelligence, which gathers data for developers. That's on par with the drop in the resale market -- at least the preliminary resale figure, which could change.

The biggest hit was to new condos, with sales falling 45 percent. Townhouses and duplexes fared best, down 14 percent. Single-family-home sales dropped 33 percent.

These figures are net sales, which means they account for cancellations. That's important, since one in four buyers canceled last year -- up from one in five in '07.

All told, 2,852 new Baltimore-area homes found buyers last year, Hanley Wood says. Following the fed's definition, it includes Queen Anne's in the calculation as well as Anne Arundel, Baltimore City, Baltimore County, Carroll, Harford and Howard.

How do you think builders' offers compare with existing-home prices?