Posted on December 10, 2012 by Corey Hart
Dec

10

2012

Slow and steady gains persist for several key indicators relative to last year; Highest proportion of condo sales on record for the metro area

OVERVIEW

Activity in the Baltimore Metro housing market remains steady, up slightly from last year, but the rate of year-over-year growth is slower than earlier in the year for many indicators. Historically sales decline between October and November, but the uptick in new contract activity last month led to a rise in sales in November. Year-over-year growth in new contracts remains, but is down considerably across all property segments this month, which could be an indication of cooling market demand. Condos continue to increase market share, reaching their highest proportion of sales on record in November.

Posted on December 10, 2012 by Corey Hart
Dec

10

2012

Demand for Townhomes remains strong causing the median sale price to jump $54K

OVERVIEW

The surge in new contract activity last month translated into a rise in sales for November. Sales are higher than last year, but new contracts are down slightly compared to November 2011. This could be an early indication of tempered demand in the market. The inventory of homes for sale continues to shrink, and new listings remain at their lowest level in over a decade. The low supply is putting upward pressure on median sales prices around the region. Price gains have been most pronounced in the townhome segment, which has led in year-over-year growth for 3 consecutive months. Townhomes also lead all segments in sales growth, and active inventory declines, which indicates strong demand for these properties. As the year-end approaches, the market tends to slow down, which will likely equate to an even lower supply of homes for sale in the coming months. Buyer demand has been consistent, but seller participation in the market remains low. This is due to both economic uncertainty and potential equity losses in many areas. With the Federal Reserve’s September announcement of continued low interest rates through 2015, it is feasible that many buyers will wait it out until more options become available in the market. This could mean slower sales and stable prices in the near-term.

Click here to view PDF version of this report

Posted on December 07, 2012 by Corey Hart
Dec

07

2012

RBI has teamed up again with our friends at the George Mason University Center for Regional Analysis, this time to analyze just who is moving in and out of the DC and Baltimore Metro region. This study helps paint a more complete picture of the "Modern Migrant" - where they come from, where they move to, and what they can tell us about housing choices in the future.  Download the PDF or share the report using the tools below the viewer. Click the link below the viewer to view the full detailed report. Happy learning...

Click here to download the full, detailed report.

market analysis
Posted on December 06, 2012 by Corey Hart
Dec

06

2012

Like most companies (and residents) of the DC Metro area, we're paying close attention to the fun-filled negotiations between the White House and the Republican majority in the house. Sequestration would obviously have a huge impact on the local economy, but our housing market is also extremely vulnerable to any mortgage interest deduction limits, even if relatively high caps are put on itemizers. For background, the always interesting (and concise) blog Econ70.com summarizes the new revenue options being considered (see their post):

"If all 1040-Schedule A deductions, including the mortgage interest deduction are capped at about $35,000, then homeowners with houses priced north of $500,000 would be the ones primarily affected, and their homes would fall in value. Interestingly, they might respond by reducing charitable giving. If, however, the deductible amount is limited to 80% of total deductions, then all itemizers would be hurt, and many more houses would decline in price."

How many of the homes sold (year-to-date) in key DC Metro areas would have been impacted by a $35,000 mortgage interest deduction cap?

Might be a good time for area homeowners to give their local congressman a ring!

 

Posted on November 19, 2012 by Corey Hart
Nov

19

2012

The nine regional videos are live. Have you grabbed the auto-updating embed code for your website yet? Visit the Videos section to view or embed your region's analysis now.  Here's the Northern Virginia MarketWatch:

market analysis, videos

RBI Sign In




Forgot password? Click here...