JUNE ~ 2022 ~ MARYLAND Housing Statistics

By
Real Estate Broker/Owner with Mackintosh REALTORS 82894
Maryland’s June 2022 Housing Statistics Suggests a Slowdown
As Prices Continue to Rise
 
 
ANNAPOLIS, MD—July 18, 2022—Home sales in June continued to slow down as prices continued to rise, according to the June 2022 Maryland REALTORS® Housing Statistics report. While the average sales price rose 10.1% to $487,470, compared to June 2021’s figure of $442,882, and the median sales price rose 8.7% to $410,000, unit sales dropped 23.2%, 8,573 units against the June 2021 figure of 11,164.
 
Another indicator of sales movement, pending sales, which looks at the number of houses under contract, dropped 17.4% to 8,308. Since March 2022, the percentage of pending sales has steadily decreased. In March 2022, pending sales dropped 7.3%. The number of new listings has also dropped steadily since March; new listings in June fell 12.5% to 11,079, and in March new listings decreased by 5.4%.
 
 
 
“Inventory is up to 1.1 months, a steady increase over the last few months,” said Craig Wolf, 2022 Maryland REALTORS® President. “Interestingly, mortgage rates fell: Freddie Mac reported that the 30-year fixed mortgage rate dropped to 5.3%, from 5.7 percent the previous week. What that means for consumers is that buying a home became 5% more affordable—about $100 less every month when paying the mortgage.”
 
 
 
According to the National Association of REALTORS®, 57% of REALTORS® nationwide cited the lack of inventory as the primary reason that held potential clients back from completing a home purchase.
 
“With inventory up and a drop in mortgage rates, this could be an ideal time for potential home buyers,” added Wolf.
 
 

We are currently experiencing a shifting market. If you are considering selling or Buying and looking for an experienced agent who can react quickly by monitoring market conditions on a daily basis feel free to contact me. If you have any real estate questions.

~ CALL / TEXT 301-748-3696 ~

 
 

Comments (7)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Buzz. Real Estate is local and in your service area buyers and sellers can depend on you for the market buzz, just the facts! Enjoy your day.

Jul 19, 2022 04:36 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Buzz... your market mirrors mine very closely in terms of trends. And we both sit at 1.1 months of inventory.

Jul 19, 2022 04:51 AM
Buzz Mackintosh

Nina Hollander, Broker inventory is starting to increase and the Buyers have a little bit more of a selection, but properties are still moving rapidly if the price is right!

Jul 19, 2022 01:06 PM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

This is a very in-depth report that people will appreciate and a bit of a slowdown isn't a bad thing in my opinion.

Jul 19, 2022 05:09 AM
Buzz Mackintosh

Brian England everyone needs a vacation and we are approaching back to school time in a few weeks which tends to slow the market at this time of year.

Jul 19, 2022 01:09 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Buzz,

Thank you for a well illustrated market report on your area. Well done. I agree with Brian England ..a slow down isn't a bad thing. On another note my brother and family are vacationing at Deer Lake..they are having a great time in a VRBO on the Lake!

Jul 19, 2022 05:26 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Great information.  Thanks for sharing and have a wonderful day! bill

Jul 19, 2022 05:59 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Maryland home buyers and sellers are sure to value your real estate market report, Buzz.

Jul 19, 2022 11:48 AM
Roy Kelley
Retired - Gaithersburg, MD

Good Friday morning, Buzz.

Have a great day and an outstanding weekend.

Jul 22, 2022 04:52 AM