Posted by Jonathan J. Miller -Tuesday, May 10, 2011, 11:40 AM
I am reporting on the Washington, D.C. and Baltimore metro area housing markets in addition to our NYC metro area and Miami research – for RealEstate Business Intelligence (RBI), the research, analytics arm of MRIS, the largest MLS in the country. It is released 10 days after the close of each period, about 3 weeks before the NAR pending home sale index covering the same period.
Here’s a snippet from the just released April 2011 RBI Pending Home Sales Index [Baltimore Metro Area] report:
…There were 2,712 signed contracts in the Baltimore metro area for the month of April, 21.8% below the tax credit-fueled surge of 3,466 in the same month last year in the waning moments of the federal stimulus program and 5.1% below the 2,857 total of the prior month. April pending sales did not keep pace with March pending sales largely due to last month’s release of pent-up demand from the lull in activity in the second half of 2010 caused by the expiration of the tax credit last spring. The April 2011 median sales price was $215,000, 6.5% less than $230,000 in April 2010 but 7.5% above $200,000 in the prior month. The first four months of 2011 resulted in the four lowest monthly median sales prices for the region since January 2005…