New-home sales cool off, plummet 13.6% in August

Real Estate Watch

October 18, 1998

Sales of new homes in the Baltimore-metropolitan area cooled off in August with a 13.6 percent drop when compared with July's numbers.

According to Meyers Housing Data Reports, a Washington publication that tracks new-home construction, the region recorded 678 sales, compared with 785 for July. Sales were off 14.8 percent compared with the same period last year.

Nevertheless, the year's sales are up 23.5 percent over last year's pace.

For single-family homes, every jurisdiction -- except Anne Arundel County, which had a 1.4 percent increase -- was down in August when compared with July. Overall, sales were off 18.4 percent, with Baltimore County taking the biggest drop, sliding 31.5 percent.

The bright spot for builders came in condominium sales, where there was a 6 percent increase in August sales compared with July. Howard County was up 44.4 percent and Baltimore County jumped 24.2 percent.

Pub Date: 10/18/98

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