Build Maryland Fall 2019 - 29

Maryland
MR S ercent han e in istin s by ounty

u

towards homeownership. Let's call this
the beginning of a promising comeback,
but there is still a long way to go to
reach the pennant.

to u

MD % Change

20

15

the new-home market, but a decline in
resale listings has pushed more buyers
into builder sales offices. The chart
above shows the year-over-year percentage decline in resale listings by county,
according to MRIS. Overall listings
in Maryland are down 8 percent, and
Montgomery and Prince George's
Counties have seen the largest declines
at minus 12 and minus 18 percent,
respectively. It is important to note
that listings were already low one year
ago, so the resale market has gone from
under-supplied to very under-supplied.
This has been a very encouraging year
for builders, but there is some concern
that a mortgage-rate driven recovery
may not last long. The strongest, most
sustained housing recoveries tend to be
generated by economic growth. Economic indicators, especially job growth,
are below average right now. There are
also some signs that a recession may be
around the corner, but the timing is
very uncertain and indicators are mixed.
On the positive side, demographics
indicate that a large pool of Millennials,
previously favoring rentals, are moving

10

5

0

5

Ben Sage, Director of
Metrostudy / Meyers Research
Mid-Atlantic Region, has been
researching and analyzing
housing markets since 1994.
He regularly meets and consults with many
of the top homebuilders in the country as
well as with lenders, developers, investors,
and utilities concerning trends in the local
economy and their effect on the real estate
market. Ben can be reached at bsage@
metrostudy.com. For more information, visit
https://www.metrostudy.com/markets/suburban-md-baltimore/.

www.metrostudy.com

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Build Maryland Fall 2019

Table of Contents for the Digital Edition of Build Maryland Fall 2019

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Build Maryland Fall 2019 - Cover4
https://www.nxtbook.com/ygsreprints/MBIA/MBIA_Fall2019
https://www.nxtbook.com/ygsreprints/MBIA/mbia_summer2019
https://www.nxtbook.com/ygsreprints/MBIA/mbia_spring2019
https://www.nxtbook.com/ygsreprints/MBIA/mbia_novdec2018_winter2019
https://www.nxtbook.com/ygsreprints/MBIA/mbia_novdec2018
https://www.nxtbook.com/ygsreprints/MBIA/mbia_septoct2018
https://www.nxtbook.com/ygsreprints/MBIA/mbia_julaug2018
https://www.nxtbook.com/ygsreprints/MBIA/mbia_mayjun2018
https://www.nxtbook.com/ygsreprints/MBIA/mbia_marapr2018
https://www.nxtbook.com/ygsreprints/MBIA/p88985_mbia_janfeb2018
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