(Baltimore, MD– April 26, 2012) The Baltimore housing market hopes to see continued increases in new housing production, according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.

The Baltimore MSA continues to see strong job growth, adding 24,200 jobs from February 2011 to February 2012. The unemployment rate in Baltimore continues to be well below the national average at 7.5%.

The Baltimore resale market weakened between 2005 and 2007 as inventories grew and sales slowed. “There is still optimism in the region that inventories will continue to recede, creating an opportunity for adding more product to the market,” said Melissa Jonas, regional director of Metrostudy’s Mid-Atlantic division.

New homebuyer traffic was 10% above the level seen in 1Q11. New housing production has picked up significantly over the past year, with the 1Q12 starts up 27% over 1Q11. Closings in the first quarter are up 3% compared to the previous year, making a second quarter in a row with a slight increase in closings.

Overall new housing inventories now sit at 5,849 units, which represent 9.5 months of supply. “Over 40% of these new units in inventory are condominiums that are under construction or sitting finished but vacant,” said Jonas. “Removing the condos from the equation, we see that single-family and townhome segments only have a 6.7 month supply of new units available, which is actually low.”

“Looking forward we hope to see continued increases in new housing production as the resale market and the economy as a whole recovers. In Maryland, this will begin with the Washington DC suburbs, with Baltimore lagging by several quarters or more,” said Jonas.

For information contact:
melissa jonas @ 703.244.5229
email melissaj@metrostudy.com

About Metrostudy
Metrostudy is the leading provider of primary and secondary market information to the housing industry and related industries nationwide. In addition to providing its own primary housing data for approximately 70% of the United States housing market, the company is recognized for its consulting expertise regarding real estate development, marketing and economic issues, and is a key source of research studies evaluating the marketability of residential and commercial real estate projects. Services are offered through an extensive network of offices located in major metropolitan areas throughout the U.S. For more information, visit www.metrostudy.com.

Melissa Jonas was recently appointed as the Director for Metrostudy’s Mid-Atlantic region. This region includes Virginia, Maryland, and West Virginia.

Melissa joined Metrostudy in 1999, helping to establish research operations in Charlotte, NC as the research manager. In 2002, the opportunity to start research operations in Northern Virginia brought Melissa back to her roots, as she grew up in Chantilly, VA. Melissa managed research operations for Northern Virginia until 2012. Her experience gives her a strong understanding of Metrostudy’s methodology and product. As Director, Melissa oversees operations and client relationships for the region.

Melissa attended the Thomas Jefferson High School for Science and Technology, and then earned her bachelors and masters degrees from the College of William and Mary in Williamsburg, VA. Melissa has served as a Planning Commissioner for the Town of Herndon since 2010, addressing land use issues including downtown redevelopment and the redevelopment of the coming Metro station area. She previously served on a Fairfax County Area Plan Review Task Force reviewing plans and creating a recommendation for proposed large-scale, mixed use development.

For information contact:
Melissa Jonas @ 703.244.5229
Email: melissaj@metrostudy.com

About Metrostudy
Metrostudy is the leading provider of primary and secondary market information to the housing industry and related industries nationwide. In addition to providing its own primary housing data collected by a staff of 650, the company is recognized for its consulting expertise on development, marketing and economic issues, and is a key source of research studies evaluating the marketability of residential and commercial real estate projects. Services are offered through an extensive network of offices located in major metropolitan areas throughout the U.S. For more information, visit www.metrostudy.com.

(Baltimore, MD– January 19, 2012) The Baltimore housing market stabilized during 2011 and suggesting improvement in 2012, according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.

The Baltimore MSA started 591 homes in 4Q2011, almost unchanged versus a year prior, while it closed over 800 homes, an increase of 8% compared to the prior year. “We continue to close more units then we start, effectively reducing new housing inventories and tightening up the local market.” said Wenhold.

Looking at the new single family and townhome numbers, the MSA has 6.0 months of supply, which is relatively tight. “Given the cycle time to start a new home, frame it, finish it and sell it, this is actually a bit below what it should be during a normalized market,” said Wenhold.

The gradual improvement of the new housing market is a direct result of a drop in resale inventories. As of June 2011, the resale market of Baltimore has a 6.9 month supply of listings, down from 10.0 months a year prior. “In 2011, there have been far fewer new listings added to the market than normal, while home sales have been increasing. This has allowed the market to consume the excess inventory, creating much more stabile and viable market conditions.” said Wenhold. “This reduced inventory creates opportunity for new housing communities, as buyers can no longer find what they are looking for in the existing home market.”

“Looking forward we hope to see the Baltimore existing home market continue to improve. We would then expect new housing starts and closings to begin a slow rebound in early 2012 as the local and national economy continues its slow recovery,” said Wenhold.

For information contact:
Kenneth Wenhold @ 703.961.1776
email: kwenhold@metrostudy.com

About Metrostudy
Metrostudy is the leading provider of primary and secondary market information to the housing industry and related industries nationwide. In addition to providing its own primary housing data for approximately 70% of the United States housing market, the company is recognized for its consulting expertise regarding real estate development, marketing and economic issues, and is a key source of research studies evaluating the marketability of residential and commercial real estate projects. Services are offered through an extensive network of offices located in major metropolitan areas throughout the U.S. For more information, visit www.metrostudy.com.

(Baltimore, MD– May 1, 2011) The Maryland resale market is nearing equilibrium and new housing market improving, according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.

As of March 2011, the resale market of the Baltimore region stands at an 8.8 month supply of listings, which is above equilibrium, but lower than the 9.5 months of supply seen at this time last year. Sales are up year over year, despite the absence of the Federal Tax Credit, and new units listed is down substantially over 2010, “a positive sign as fewer units are being added on the supply side,” said Kenneth Wenhold, director of Metrostudy’s Mid-Atlantic division.

New housing production has been steady, down only 4% in 1Q2011 versus 1Q2010, “again a good sign considering we had the stimulus in effect in early 2010,” said Wenhold. Closings in the quarter were down 10% versus the previous year. However, new home closings exceeded new housing starts for the fourteenth straight quarter, reducing new home inventories and preventing a build up of excess supply in the market. “This is what you would hope to see,” said Wenhold, “as adding an excess of new homes to the market would be throwing fuel on the fire and make matters worse.”

Overall new housing inventories now sit at 6,525 units, the lowest number of units seen in the last five years, which represents 9.5 months of supply. However nearly two thirds of these are condominium units which are contained in just a handful of distressed high-rise properties, and without them there is a 6.0 months of supply of units, “which is more reasonable,” said Wenhold.

The Baltimore MSA is now experiencing significant job growth, adding 16,400 jobs over the last year in February, while the unemployment rate continues to hold steady, below the national average. “This improvement in job creation, coupled with the tighter labor markets locally, is providing optimism in the region,”.

“Looking forward we expect to see starts and closings begin to rebound in 2011 as the resale market and the economy as a whole recovers. This will be particularly apparent in the second and third quarter as the prior year figures were depressed by the end of the tax credit,” said Wenhold. “In Maryland, this will begin with the Washington DC suburbs, with Baltimore lagging by several quarters.”

For information contact:
kenneth wenhold @ 703.961.1776
email kwenhold@metrostudy.com

About Metrostudy
Metrostudy is the leading provider of primary and secondary market information to the housing industry and related industries nationwide. In addition to providing its own primary housing data for approximately 70% of the United States housing market, the company is recognized for its consulting expertise regarding real estate development, marketing and economic issues, and is a key source of research studies evaluating the marketability of residential and commercial real estate projects. Services are offered through an extensive network of offices located in major metropolitan areas throughout the U.S. For more information, visit www.metrostudy.com.