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RBI Pending Home Sales Index [Baltimore Metro Area] 08 2011
A two year moving window on the Baltimore metro area housing market
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…
