[RBI Pending Home Sales Index] Baltimore Metro Area 4-2011 – Contract Activity in April Falls Short
Posted by Jonathan J. Miller -Tuesday, May 10, 2011, 11:40 AM
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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…
RBI Pending Home Sales Index™ [Baltimore Metro Area]
