Baltimore, D.C., see rise in home sales

The Mid-Atlantic region may be gaining popularity as a destination for relocating Americans.

June home sales in that part of the country rose 10 percent from the previous month and 17 percent since April, reported RealEstate Business Intelligence. The area's median home prices also increased 7 percent in June, although homes stayed on the market for about the same amount of time as they did in May - around 76 days. Pending contracts rebounded from a 44 percent drop in May, increasing 14 percent in June.

"Our latest research indicates that a slow move toward stabilization is heralding a housing recovery in this specific geographic focus," said RBI president Jonathan Hill.

In the Baltimore area, home sales were up 6 percent from the previous month and home prices increased 8 percent. The District of Columbia experienced an 8 percent rise in the number of units sold, with prices climbing 2 percent in June.

Positive growth may indicate that more people are moving to the Beltway. Many might be drawn by a mortgage assistance program that offers funds to military workers and families that are taking part in the Base Relocation and Closure Process in Maryland.


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