The New Normal: As the Market Stabilizes, Expectations for Growth are Modest

Posted in Maryland Market | Posted on 12-10-2014 | Written by Metrostudy News

  • 3Q14 Home Starts are down 4% YoY, a surprise given the positive market indicators;
  • Market Strength varies by County – the largest increase in starts was in Anne Arundel County
  • Despite slight decline in new-home demand, builders have maintained a tight control on their inventory levels

December 2014: According to the Metrostudy’s 3Q14 survey of the Maryland housing market – which includes nearly the entire state save the Eastern Shore south of Queen Anne’s County – home starts, attached and detached, numbered 8,983 during the year ending 3Q14. This is down 4 percent from 3Q13, a surprising decline given the decent job growth and healthy resale housing market indicators. Annual new home closings, or “move-ins” by Metrostudy methodology, were up slightly as builders closed 8,913 units during the year ending 3Q14, an increase of only 1.9 percent from a year ago.

In the resale home market, supply is growing and Maryland is now a more balanced market as opposed to a sellers’ market. September single family resale listings in Maryland numbered 24,633 units, up 24 percent from a year ago. Resale inventory now measures 5.4 months of supply, which is normal by historical standards. It is a little higher in Baltimore at 6.2 months and lower in Suburban Maryland at 4.6 months. Overall, resale prices should continue to climb at a normal rate.

During the 12 months ending June, Maryland MLS sales numbered 54,613 units, up only 1 percent from one year ago, as the annual rate of sales has leveled off since the beginning of the year. The median price of a home sold in this area through the MLS reached $265,000 in September, a 3 percent increase from $257,000 12 months ago. The median price in Suburban Maryland is $280,000, which is up 5 percent from one year ago, while Baltimore – at $245,000 – is even with last year. Median price is not the best indicator of home price appreciation. According to Clear Capital’s repeat-sales index, home values are up 5.9 percent year over year in the DC Metro area and up 2.1 percent in Baltimore.

“In terms of starts activity, Maryland is led by Prince George’s and Montgomery Counties in DC Metro and Howard and Anne Arundel in Baltimore Metro, combining for 54 percent of Maryland’s annual starts,” said Ben Sage, Director of Metrostudy’s Mid-Atlantic Region. “Anne Arundel County experienced the largest increase in annual starts, growing by 174 units compared to one year ago. Washington DC, which Metrostudy includes in Maryland, also experienced notable growth, growing by 114 units over last year. Unfortunately, most areas of            Maryland experienced a decline as 11 of 16 market areas lost ground compared to a year ago. The weakest are Baltimore City (-170 units), St. Mary’s County, (-114 units), and Howard county (-102 units).”

The overall inventory of vacant developed lots (VDL), or finished lots, numbers 12,489, which is down 4 percent from last year. This is for all product types, including attached product as well as custom lots. The corresponding months of supply are essentially even with one year ago. Current supply of 17 months is quite low, as this is one of the most land constrained markets in the country. The supply of VDL varies by county, but it is generally lowest in the most active submarkets and in infill areas: Washington DC (4 months), Howard (5 months), Montgomery (8.5 months), and Baltimore (10 months). Higher lot supplies persist in Cecil County (53 months), and in Calvert County and Baltimore City (each at 47 months).

With Maryland being such a land-constrained market, much attention is focused on future lot supply. Metrostudy follows and reports on the entitlement of over 200,000 future lots in the state, but only 24,436 of these are recorded at the counties. Currently, Prince George’s County has the most capacity to meet current and near-future demand needs.

As new-home demand has declined slightly, it appears that builders remain disciplined with spec inventory. Finished vacant new homes number 1,806 units in Maryland, which would last 2.4 months at the current closings pace. Both measures are mostly unchanged from one year ago, and relative supply is normal by historical standards. Furthermore, finished vacant inventory is quite low for townhomes and single family, which measure 1.3 and 1.2 months, respectively. These two product types account for 90 percent of Maryland starts.

“Feedback from Maryland builders is somewhat more positive compared to Northern Virginia,” said Sage.  “One reason for this is that Maryland builders have a similar number of open communities now compared to last year, whereas competition in Northern Virginia has increased. Maryland is also experiencing stronger job growth; however, neither market is performing up to expectations. Until we get more economic traction on a regional basis, housing growth expectations should remain modest.”

For information contact:
Ben Sage -703.574.8429
bsage@metrostudy.com

About Metrostudy

Metrostudy is the leading provider of primary and secondary market information to the housing and related industries nationwide. Metrostudy provides research, data, analytics and consulting services to help builders, developers, lenders, suppliers, retailers, utilities and others make investment and business decisions every day. For more information, visit www.metrostudy.com 

About Hanley Wood

Hanley Wood, LLC is the premier information, media, event, and strategic marketing services company serving the residential, commercial design and construction industries. Utilizing the largest editorial- and analytics-driven construction market database, the company produces powerful market data and insights; award-winning publications, newsletters and websites; marquee trade shows and executive events; and strategic marketing solutions. To learn more, visit hanleywood.com.

Lots of Catch-Up

Posted in Atlanta Market, Austin Market, Central Florida Market, Dallas - Ft. Worth Market, Denver - Colorado Springs Market, Houston Market, Inland Empire Market, Jacksonville Market, Las Vegas Market, Maryland Market, Naples - Ft. Myers Market, National Housing Market, Northern Virginia Market, Phoenix - Tucson Market, Raleigh - Durham Market, Sarasota - Bradenton Market, South Florida Market, Southern California Market, St. George - Mesquite Market, Tampa Market | Posted on 08-04-2014 | Written by Brad Hunter

brad hWe have been talking for years about the lot shortages that builders are facing.  Now, it’s time to talk about how many lots are being developed.  Builders and developers are now playing “catch-up,” with builders buying land and lots and developers/investors paving roads and putting in infrastructure to serve the builders’ needs at a frenetic pace.

The pace of lot delivery (completion, ready for the builder) has gone up 140% in the past two years, much faster than the pace of housing production has risen (+84%).  Despite this increased pace, lot development STILL lags the pace of home production nationwide.

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In some markets, the lot production machine is in full gear, and has caught up with demand.  This is a good sign for builders, and a vital turning point for home production in 2015 and beyond.

The TOP TEN states for lot production in 2Q14 are:

State       2nd Q.   Starts        2nd Q. Lot       Deliveries
Texas 19,714 18,931
Florida 12,416 10,974
California 10,050 10,219
North Carolina 4,866 3,168
Georgia 4,489 1,270
Colorado 3,985 3,276
Arizona 3,519 4,596
Maryland 2,436 2,122
Utah 2,328 2,498
Virginia 2,198 1,850

Note that lot production has caught up with new home production in California, Arizona, and Utah.   Florida development is woefully far behind demand for lots, hence the skyrocketing cost of finished lots there.

Metrostudy defines “future lots” as those that are in the pipeline (some are pre-entitlement), and Florida has the deepest pipeline.   Below are the top 10 states ranked by known future lots.

State Future Inventory
Florida 1,597,055
California 1,378,299
Arizona 1,213,476
Texas 651,413
Colorado 406,613
Georgia 316,956
Illinois 281,054
Nevada 227,121
Maryland 194,829
Virginia 183,613

 

New Home Starts up 15% in Suburban Maryland

Posted in Maryland Market | Posted on 02-21-2014 | Written by Metrostudy News

(Baltimore, MD – February 21, 2014) The Suburban Maryland homebuilding industry posted another solid year of improvement in 2013. This is 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.

According to the Metrostudy quarterly survey, home starts, attached and detached, in Suburban Maryland were up 15 % from 2012, a very solid gain that saw output increase by 1,422 units. However, 4Q13 was a little soft with only 1,856 starts, a 7 5 decline compared to 4Q12. Annual new home closings, or “move-ins” by Metrostudy methodology, were up as builders closed 9,207 units during 2013. This represents an increase of 20 percent from the previous year. “In terms of starts activity, Suburban Maryland is led by the four contiguous counties located between the region’s two largest cities. Prince George’s and Montgomery in DC Metro and Howard and Ann Arundel in Baltimore Metro accounted for 53 percent of Suburban Maryland’s starts in 2013 (Figure 5). These counties also exhibited the largest increase in starts, increasing output by a combined 1,067 units, or plus 27%,” said Ben Sage, Metrostudy’s Regional Director of the Suburban Maryland Market.

The overall inventory of vacant developed lots (VDL), or finished lots, declined 7 % over the past year to 13,317. This is for all product types, including attached product as well as custom lots. The decline combined with an increase in starts has resulted in the supply of VDL to fall to 17 months. “This is quite low, and it is down from 26 months only two years ago. The supply of VDL does vary by county. Supply is generally smallest in the more active submarkets or in infill areas: Howard (6 months), Montgomery (9 months), and Baltimore (14.3 months). Higher lot supplies persist only in Cecil and Queen Anne’s Counties, which have 45 and 59 months, respectively,” said Sage.

The improvement in finished vacant housing inventory over the past three years validates the strengthening new-home market. Finished vacant homes number 1,744 units, which would last 2.3 months at the current closings pace. This is approaching normal, and it has improved from 3.5 months one year ago. Furthermore, finished vacant inventory is quite low for townhomes and single family, which measure 1.5 and 1.1 months, respectively, both being quite low. “Condo product only is oversupplied with finished vacant new-home inventory with 905 units corresponding to 9.2 months. This is much improved, though, from 14 months only one year ago,” said Sage.

“With the economy expected to continue to grow, Metrostudy looks for continued expansion of the housing market. A limited supply of resale homes will drive consumers to new-home communities and keep builders busy. The challenge, of course, is land availability, as the months supply of VDL here is one of the lowest in the country. Builders are paying premiums for land in a market that is already challenged by affordability. Revenues should grow this year, but margins will be squeezed as builders continue to strive for efficiency,” said Sage.

About Metrostudy

Metrostudy is the leading provider of primary and secondary market information to the housing and related industries nationwide. Metrostudy provides research, data, analytics and consulting services to help builders, developers, lenders, suppliers, retailers, utilities and others make investment and business decisions every day. For more information, visit www.metrostudy.com

About Hanley Wood

Hanley Wood, LLC is the premier information, media, event, and strategic marketing services company serving the residential, commercial design and construction industries. Utilizing the largest editorial- and analytics-driven construction market database, the company produces powerful market data and insights; award-winning publications, newsletters and websites; marquee trade shows and executive events; and strategic marketing solutions. To learn more, visit hanleywood.com.

02/19/13: Metrostudy Maryland, DC, and Virginia 4Q12 Executive Client Briefing

Posted in Events, Maryland Market, Northern Virginia Market | Posted on 02-07-2013 | Written by Metrostudy News

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Maryland, DC, and Virginia
4Q12 Executive Client Briefing

Join us for the 4Q 2012 Metrostudy (now a Hanley Wood company) Executive Housing Briefing, where we will discuss the National Economic Outlook and  the Maryland, DC, and Virginia Market Overview. Hear for yourself how the market may impact your business in 2013.

Get the inside scoop on trends and forecasts for 2013, including the key trends that are impacting new construction to help your business planning.

This is an invitation only event. Attendees will include only current clients and invited guests from homebuilder, developer, and lender organizations. Please feel free to forward the above link to any of your associates as there is no limit to the number of people who attend from client companies.

Tuesday February 19th, 2013

Register Here

WHERE: The Westin Tysons Corner
7801 Leesburg Pike, Falls Church, VA 22043 – Contact Number 703- 893-1340

AGENDA: 10-12: Registration starts at 10:00 am and Briefing begins at 10:30 am

SPEAKERS: Melissa Jonas

Regional Director –  Maryland and Virginia markets

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QUESTIONS: Contact: Melissa Jonas

email: melissaj@metrostudy.com

Register Here

12/05/12: 2012 Real Estate and Construction Forecast Conference

Posted in Events, Maryland Market, Northern Virginia Market, Suburban Maryland Market | Posted on 11-14-2012 | Written by Metrostudy News

3 Real Estate Credits will be given

December 5th, 2012 Doubletree By Hilton Hotel in Columbia 8 am- 12:30 pm
To attend the 2013 Real Estate and Construction Forecast Conference please register online.No tickets will be mailed.

Click Here to Register Now

Agenda
8:00 am- Registration and Breakfast Buffet
8:45 am- Welcome and Introductions
9:00 am- “The View From The Fed” Andy Bauer, Regional Economist, Baltimore Branch of the Richmond Fed
9:45 am- The NAHB 2013 Industry Forecast Rob Dietz, Assistant Vice President in the Economics Group, National Association of Home Builders
10:15 am - Break
10:30 am- Washington-Baltimore:Similarities and Differences in the Regional Market
Lisa Sturtevant, Assistant Research Professor, School of Public Policy Deputy Director, Center for Regional Analysis George Mason University
11:00 am- Recent Trends and Current Numbers Across “The Region” Melissa Jonas, Metro Study Corporation
11:45 am- “The Outlook for Central Maryland” Anirban Basu; Chairman and CEO of the Sage Policy Group
12:30 pm- Adjourn

Questions:
Contact Carey Swift at 410-265-7400 ext.118

Baltimore’s housing market continues to improve in 3Q12

Posted in Maryland Market, National Housing Market, Suburban Maryland Market | Posted on 11-02-2012 | Written by Metrostudy News

(Baltimore, MD–November 2, 2012) Looking forward we hope to see continued increases in new housing production as the resale market and the economy as a whole recovers, 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 Washington DC economy continues to expand, adding 38,200 jobs from August 2011 to August 2012. Currently, the MSA is 5,000 jobs below peak employment, holding close to the December 2007 level seen prior to the recession. “The Baltimore MSA saw some improvement to job growth, adding 6,800 jobs over the same time period,” said Melissa Jonas, regional director of Metrostudy’s Mid-Atlantic division. The unemployment rates in both the DC area and Baltimore continue to be below the national average of 8.1%, coming in at 5.5% and 7.7%, respectively. Baltimore has edged nearer to the national average in recent months.

New homebuyer traffic was 13% below the level seen in 2011 in the third quarter, while contracts were down by 7%. The activity seen in 3Q12 was promising, with the conversion rate rising by 7% versus 3Q11 rates. Year-over-year for the quarter, the cancellation rate rose by 18% to an average 25.3% rate. “New housing production has picked up very slightly over the past year, with the 3Q12 starts up 20% over 3Q11,” said Jonas. The market is adding 7,600 units annually, continuing a four quarter trend of increased production. Closings in the third quarter are up 3% versus the previous year, marking the fourth quarter in a row with a slight increase in closings.

Overall new housing inventories now sit at 5,880 units, which represent 9.2-MOS. However, 38% of these new units in inventory are condominiums that are under construction or sitting finished but vacant. The number of vacant developed lots remains at 14,200 VDLs for the entire region. This now represents a 22.4-MOS of lots in the overall market. However, lot supplies are much lower in the core counties, where most have less than 20 months of supply. ”As such, continued increases in activity over the next several quarters will likely result in a significant shortage of lots in core areas, pushing development outward and into the second tier submarkets, while driving up prices of the existing lots,” said Jonas.

For information contact:
melissa jonas @ 703.961.1776
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

Washington DC housing market recovery pushes forward in 2Q12

Posted in In The News, Maryland Market, Northern Virginia Market | Posted on 07-27-2012 | Written by Metrostudy News

(Washington, DC–July 27, 2012) The Washington DC resale market has been more resilient than many other markets. Inventory levels in key counties have dropped below equilibrium and are beginning to lead to increased new home activity, according to a recent quarterly 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 Washington DC economy continues to expand, adding 47,000 jobs from May 2011 to May 2012. Currently, the MSA is at a new level of peak employment, beating the December 2007 level seen prior to the recession. As a result, the unemployment rate in the DC area has dropped, currently at 5.3%, still significantly below the national rate of 8.2%. “This makes the Washington DC region one of the tightest labor markets in the country,” said Melissa Jonas, regional director of Metrostudy’s Mid-Atlantic division.

Currently we find that the Northern Virginia resale market is well below equilibrium with 3.3 months of supply, while the Maryland suburbs of Washington DC are now under equilibrium at 4.1 months of supply. New homebuyer traffic was 29% below the level seen in 2011 in the second quarter, while contracts were up by 4%. “The activity seen in the spring months was promising, with the conversion rate rising by 7% versus 2Q11 rates. Year over year, for the quarter, cancellation rates rose 40% to an average 15.8% rate,” said Jonas.

New housing production increased by 32.4% versus 2Q11, which is the fourth consecutive year over year increase. Closings were up by 0.5% versus the same quarter last year, as the market picks up. Starts were well above closings and higher than any time since 2010. Overall new housing inventories now sit at 4,830 units, which represent a 9.2- months of supply. “However, over a third of these new units in inventory are condominiums that are under construction or are sitting finished but vacant, with many of these units contained in just a handful of high-rise properties,” said Jonas. With condos removed from the equation, the inventory of single family and townhome units stands at 6.7 months of supply.

The market has 22,500 vacant developed lots available at the end of 2Q12, an increase of roughly 540 units over the prior quarter. Due to the increase in starts, the overall supply of lots in the region dropped to 38.8-months, a marked drop from the nearly 60 months of supply seen several years ago. In the core counties where the majority of activity is occurring, the supply of lots stands at just over 17 months.

“Looking forward we expect activity to continue to increase, particularly in the core counties as the resale market draws down inventory. Lot shortages in these areas will likely cause activity to bleed over to the exurbs later in 2012. The result should be price escalation in the core and an increase in starts in second tier markets,” said Jonas.

For information contact:
melissa jonas @ 703.961.1776
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.

Baltimore housing market poised for gains in 2Q12

Posted in In The News, Maryland Market, Northern Virginia Market, Suburban Maryland Market | Posted on 07-27-2012 | Written by Metrostudy News

(Baltimore, MD– July 27, 2012) Expansion in new home construction is expected to continue in the Baltimore market as resale inventories decline and the economy improves, 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 employment growth, adding 7,000 jobs from May 2011 to May 2012. The unemployment rates in both the DC area and Baltimore continue to be well below the national average of 8.2%, coming in at 5.3% and 7.1%, respectively. “These levels make the Washington DC and Baltimore regions some of the tightest labor markets in the country, said Melissa Jonas, regional director of Metrostudy’s Mid-Atlantic division.

Both the Washington DC and Baltimore resale markets weakened between 2005 and 2007 as inventories grew and sales slowed. Northern Virginia was the first submarket to improve dramatically (2008), followed by the Washington DC suburbs in Maryland (2009), and finally the Baltimore MSA (2011). “There is still optimism in the region that inventories will continue to recede, creating an opportunity for adding more new product to the market, hopefully in the coming months,” said Jonas.

New homebuyer traffic was 2% below the level seen in 2011 in the second quarter, while contracts were up by 4%. New housing production has picked up very slightly over the past year, with the 2Q2012 starts up 2% over 2Q2011. The market is adding 7,250 units annually, continuing a nearly three year trend of stable production. “Closings in the first quarter are up 10% versus the previous year, marking the third quarter in a row with a slight increase in closings,”
said Jonas.

Overall new housing inventories now sit at 5,830 units, which represent 9.2 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 6.9- 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 @ 703.961.1776
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.

Washington and Northern Virginia: Challenging Resale Buyer’s Markets

Posted in Maryland Market, Northern Virginia Market | Posted on 05-20-2012 | Written by Metrostudy News

April of 2012 showed the continuance of a trend of tightening resale markets in our region. In Northern Virginia, sales were up 9% compared to April 2011, with listings down 19% over the same period. The total number of available listings in the region registered slightly below 9,300 units, up by 14% from the prior two months, but still comparable to levels seen in the spring of 2005. The Washington DC portions of Maryland saw sales down 1% versus April 2011 and listings down by 31% versus the prior year, with Prince George’s County showing 48% fewer listings year over year. The total number of listings on the market was just under 10,600, holding at late 2005 levels.

While February through April is typically the time of the year when these regions add the majority of new resale inventory, fewer listings were added to the market than during the peak years of 2002-2006. According to Redfin.com, April resale inventories were at less than a three month’s supply in significant portions of major markets, including: San Francisco, Denver, Phoenix, San Diego, Los Angeles, Northern Virginia, and Seattle. Washington DC sits at only 3.2 months of supply. Why the tight levels of listings? In some cases, sellers are still waiting for their homes to emerge from being underwater or they are attempting to time the market in hopes of getting more for their home in a year or two.

Realtors are reporting the challenges they face in finding homes for their buyers. Multiple contracts are being offered on homes. Contracts are being written with escalation clauses. Agents often have to show clients increasing numbers of properties as supplies diminish and homes slip through their fingers with bidding wars and the occasional financing issues some sellers still encounter. Things are tight enough in Northern Virginia that realtors are asking homeowners to put their homes on the market.  So far, the spring 2012 pace of sales has been able to clear much of the inventory as it is added, preventing softening of the market. As this pace continues, we expect to see an increasing shift in demand from the resale market to the new housing market. What is needed is the return of the pattern in which move-up buyers can find a home and not feel inclined to stay where they are. This represents a significant opportunity for new home builders who have desirable price points, floor plans, and locations to offer buyers.

Baltimore looks increases in new housing production

Posted in Maryland Market, Suburban Maryland Market | Posted on 04-26-2012 | Written by Metrostudy News

(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.