BALTIMORE (WJZ)—Realtors say they’re watching the market one month at a time. But over the last few months they’ve seen a slight turnaround statewide.
As Gigi Barnett explains, Baltimore is in the forefront.
A large inventory of homes is ready for the taking in Maryland. Add in great rates and programs designed to get motivated buyers in action, and it’s why realtors are reporting a boost in housing sales statewide.
“I looked at six houses,” said Brandon Lurry.
Lurry is a first-time homebuyer, who’s also a Baltimore firefighter.
The 22-year-old used a grant program for police officers, teachers and firefighters to purchase his house in the Waverly section of the city.
“You got to take advantage of the opportunity right now,” Lurry said. “The economy is turning over and it’s an investment that you keep for a long time.”
Over the last five months, realtors have seen a steady increase in housing sales statewide. Last month, they sold more homes than any other month since June 2010.
“The rental prices are going up, so essentially, it’s costing more to rent a house than to buy a house. There’s not that much convincing I have to do with the clients, when I pull out the numbers,” said Marvin Robinson, realtor.
And while sales are up everywhere, Baltimore is a front leader.
“Baltimore really holds the key to lots of challenges that we have from growth in our relatively tiny and densely populated state,” said Gov. Martin O’Malley.
And that key could unlock many new home doors.