New-home sales off 12.6% in area during October

REAL ESTATE WATCH

December 01, 1996

New-home sales in the Baltimore region fell 12.6 percent in October, according to a monthly survey by Housing Data Reports Inc.

In Baltimore City and Anne Arundel, Baltimore, Carroll, Harford and Howard counties, 703 homes sold during the month, compared with 805 in October 1995, the Washington research )) company said.

Sales have been sluggish because of intense competition among builders, low consumer confidence and a dwindling number of people out looking at homes, the researchers said.

Modest economic growth has led to greater insecurity among consumers, they said.

On a month-to-month basis, however, sales rose 4.1 percent in the region, surpassing September's 675 homes sold, the report said.

Compared with September, October sales rose 0.3 percent for single-family homes and 5.1 percent for townhouses, but fell 14.6 percent for condominiums.

For the first 10 months of the year, sales of single-family homes were up 2.3 percent in Anne Arundel County and 24.5 percent in Baltimore County, while sales of townhouses were up 24.3 percent in Howard County and 14.1 percent in Baltimore County, compared with 1995.

Sales in October, compared with October 1995, fell in every jurisdiction but Baltimore County, where sales climbed 5.3 percent to 238, and in Carroll County, where sales remained flat, with 48 homes sold. Sales were off 17.9 percent in Anne Arundel; 33.3 percent in Harford; and 9.5 percent in Howard County. In the city, just one new home was sold for the month, compared with three sold in October 1995.

Pub Date: 12/01/96

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