53% drop in new contracts from April to May
If you're a housing-market watcher, you were bound to be curious how the end of the first-time home buyer tax credit would play out. We'll have to wait longer for the bottom-line result, but the immediate effect is a wallop.
Buyers signed 53 percent fewer contracts for Baltimore-area home purchases in May than they did in April, according to Metropolitan Regional Information Systems. The year-over-year decline -- the way we normally compare -- was more than 30 percent.
Read more about it in today's story. (And see what Richard J. DeKaser, a housing-market researcher who once put the Baltimore metro area on an overpriced-markets list, thinks of values now.)