[RBI Pending Home Sales Index] Baltimore Metro Area 8-2011 – Strong Finish To Summer Despite Flurry of Challenges
Posted by Jonathan J. Miller -Monday, September 12, 2011, 2:02 PM
Today we released the RBI Pending Home Sales Index for both Washington, D.C. and Baltimore metro area housing markets 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 (today it was on the 12th since the 10th fell on the weekend), about 3 weeks before the NAR Pending Home Sale Index and 182 days before the Case Shiller Home Price Index covering the same period.
Here’s an excerpt from the just released August 2011 RBI Pending Home Sales Index [Baltimore Metro Area] report:
….Baltimore area home sales enjoyed their best August in five years as buyers took advantage of affordable prices and record low interest rates. While August pending sales of 2,365 was 1.7% below the July 2011 total of 2,407, the current decline was well below the 6.9% average month-over-month decline of the past 5 years and the 4% average month-over-month decline of the past ten years. Median sales price also outpaced seasonal patterns, rising 4.4% to $235,000 in August from $225,000 in the July . For the past ten years, median sales price has slipped an average of 0.5% from July to August…