May home sale figures
We'll get a snapshot of May home sales and prices today when Metropolitan Regional Information Systems releases its monthly statistics for the Baltimore metro area.
MRIS, which runs the region's multiple-listing service used to buy and sell homes, puts its figures on the website of its stats arm, RealEstate Business Intelligence. You should be able to see the report here when it's released, likely later this morning.
Check back here for an update.
The number of May home sales dropped 20 percent from a year ago, when homebuyers were hurrying to close deals in order to qualify for the now-gone federal tax credit. Home prices also fell, down about 4.5 percent on average.
April 2010 was the deadline to get under contract for the tax credit, which meant a big uptick that month and a big drop-off the next, so unsurprisingly, new pending deals this May blew last May's out of the water. The increase: 54 percent.
What's probably more interesting than the May vs. May contract figures is the year-to-date. New contracts signed in the first five months of this year outnumber signings in the corresponding months last year by 10 percent, MRIS says.