Resale Houses Sold in Anne Arundel, Howard, and Prince George's Counties for August

This is where the really positive news shows. The number of houses sold in the month of August for Anne Arundel County was 9% higher than a year ago. In Howard County there was a 7% increase. Prince George's County is the big winner with a 48% increase over August 2008. Keep in mind that the sales price is lower than a year ago. However, the good news has to start somewhere. Increase in sales price will come as the economy improves. It may be the the $8K tax credit is getting the first time home buyer out to buy. It also appears that now is the time to buy if you are a first time home buyer that has been sitting on the fence, because this is probably the bottom of the market. As short sales and foreclosures decrease, home prices will start to increase. It is hard to say when that will happen, but it is inevitable. Keep in mind that like all of our economy, the housing market is cyclical, and we have been in this down cycle for three years.

Data from MRIS