Mid-Atlantic real estate sees some improvement

All summer long, moving activity has spurred positive growth in the Mid-Atlantic housing market.

More homes are being sold in that region, and for-sale properties are staying on the market for shorter periods of time, reported RealEstate Business Intelligence. During June and July, homes in the Mid-Atlantic stayed on the market for an average of 76 days, which was 24.5 percent lower than the same period a year ago.

So far this year, 7.87 percent more Mid-Atlantic homes have been sold compared to the first seven months of 2009, the report added.

"We are pleased to see that no ground has been lost since last month," said RBI president Jonathan Hill. "Gains of 3 and 4.4 percent in median and average sales prices, respectively, a decreasing listing inventory and a 3.3 percent decline in new listings all indicate continued market stability and strength on a greater scale."

Some experts worry if that growth can be sustained in light of recently announced budget cuts at the Department of Defense, which the Washington Post reports could eliminate thousands of government jobs.

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