More homes for sale in the Baltimore region
If putting your home on the market is a sign of optimism, however so small, then more sellers are doing some positive thinking. The number of homes for sale in the Baltimore metro area jumped 10 percent between February and March.
That's the biggest springtime increase since 2006, and it comes even as more homes were newly off the market thanks to buyer activity, according to Metropolitan Regional Information Systems data.
No doubt some of those new sellers in March were hoping to ride the home buyer tax credit wave. (Even some of the sellers who hit the market in April, for that matter. The deadline to sign a contract and qualify for the credit was April 30.)
The inventory of homes for sale in the region has been mostly on the downswing since the fall of 2008, at least compared year-over-year -- a trend that began with sellers giving up, not buyers stepping up. Buying began to increase last year.
The for-sale inventory was down in March from a year earlier, too, even with the bump-up from February. But just 2 percent, which is the smallest year-over-year drop in months.
We'll get a look at April when those stats are released next week.
Do you feel like you have more options now, buyers?
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Comments
There are plenty of options, places we'd love to move to, but we need to sell the place we have.
Posted by: Larry | May 6, 2010 8:41 AM
There are twice as many houses for sale in my neighborhood as when I was looking.
However - the prices are noticeably lower.
Posted by: bryanintowson | May 6, 2010 8:52 AM
I'm in the same boat as the other 2 commenters. However I'm considering renting out my current place instead of selling. There is just so much inventory and houses are sitting on the market longer.
Posted by: BaltBabs | May 6, 2010 12:59 PM
I'd love to buy a home in the northern half of the city/county metro area, but even with depressed prices I would have to choose between a decent house or a safe neighborhood-- I still can't afford both. For now I will continue renting in Parkville.
Posted by: Steve | May 6, 2010 1:43 PM
Stock market slumping...tax credits expiring...fear indexes increasing...hold on a little longer, renters. The home price curves are about to resume the march toward normalcy.
Oh and sellers - I suggest you sell now... or be priced in forever!
Posted by: Darwin Rules | May 6, 2010 4:29 PM
@Steve -
since you're in Parkville, you should check out Knettishall/Loch Raven Village.
Posted by: bryanintowson | May 7, 2010 8:33 AM
I had a number of clients list houses in April just to "give it a try" to get a tax credit buyer. Some worked, some didn't. We'll see if they keep the house on the market or pull it back now that the credit is gone!
Posted by: John K. | May 7, 2010 9:41 AM