21 January December 2025 and Annual Housing Stats by Jacky Mueck Housing Stats 0 0 Comment 608 With Housing Sales Down in December, 2025 Marked the Early Stages of a Shift Toward the Buyer Inventory and Days on Market Trends Point to Easing Conditions for Buyers. ANNAPOLIS, MD — January 20, 2025 — Home sales in Maryland fell 4.4 percent in December, with 5,491 homes sold compared to 5,746 a year earlier. The average sales price rose 2.6 percent to $510,264, while the median sales price increased 1.4 percent to $430,000. Median Days on Market rose from 17 days in December 2024 to 22 in 2025, a signal that buyers are being more discerning about their purchasing decision. For all of 2025, home sales totaled 67,245 units, down 3.1% from 69,391 units in 2024. Over the same period, the average sales price increased 3.7% to $513,651, while the median sales price grew 2.6% to $431,000. Inventory conditions showed signs of improvement in 2025. While active inventory fell 5.9 percent for the year, this decrease was notably smaller than in prior years, when inventory declined 12.8 percent in 2024 and 21.5 percent in 2023. Months of inventory rose to 2.2 months in 2025, compared to just 1.4 months in 2023. Days on market also increased, reaching 14 days in 2025, up from 11 days in 2024 and 9 days in 2023—all signs of a shift toward a buyer’s market “The story I see in these numbers is that the market is shifting toward the buyer,” said Denise Lewis, 2026 President, Maryland REALTORS®. “We’re not yet in a true ‘buyer’s market’ as sales are down while prices continue to rise, but the movement in that direction is becoming increasingly clear.” Economic Statement from the Sage Policy Group The pace of home selling slowed in December, capping off a disappointing year for Maryland’s housing market. Nearly 4,000 fewer homes were sold in 2025 than in 2024, a decline of 3.1%, and the weakness was widespread, with sales decreasing in 16 of Maryland’s 24 jurisdictions. “December’s sluggish pace of sales, with statewide units sold down 4.4% on a year-over-year basis, is particularly disappointing given the recent decline in mortgage rates,” said Anirban Basu, Chair and CEO of the Sage Policy Group. “The average rate for a 30-year fixed-rate mortgage was approximately 6.2% in December 2025, well below the roughly 6.7% average rate in December 2024.” This slowdown is at least partially due to a struggling statewide economy. Maryland lost 10,800 jobs over the past twelve months, and the state unemployment rate has increased by over a full percentage point, rising to 4.2%. While that’s still below the nationwide average and low by historical standards, it’s up more than 2 full percentage points from the mid-2023 all-time low. Despite ongoing job losses and a labor force that’s lost more than 13,000 people over the past year, home prices continue to rise, with the statewide average up 2.6% year over year in December. Homes are also taking slightly longer to sell, with the median home taking five days longer to sell than it did one year ago. There are, however, reasons to be optimistic about buying conditions in 2026. “Mortgage rates are over a percentage point lower than at the start of 2025 and are likely to decline by the end of the year,” said Basu. “Even if the Federal Reserve doesn’t meaningfully lower rates, the White House recently ordered the purchase of $200 billion in mortgage-backed securities. That, combined with softer-than-expected inflation data for December, bodes well for lower borrowing costs.” The statewide economy may stabilize in 2026, which would provide an even greater boost to home selling. Federal government job losses accounted for the majority of Maryland’s recent employment declines, and that should level off in 2026. The state added 3,000 net new jobs in November, the most recent month for which data is available. While that’s far from spectacular job growth, it represents the first monthly gain since July. Changes to income tax deductions implemented by the One Big Beautiful Bill Act could also aid the state’s housing market. Higher income households will get exceptionally large tax refunds, and that could boost home buying during the first half of the year. Basu added, “Ultimately, the outlook for Maryland’s housing market is similar to the outlook for the nationwide economy: shrouded in uncertainty, but with definitive upside.” Additional Resources Download December 2025 Housing Statistics Download December 2025 Housing Infographic Download 2025 Annual Housing Statistics Download 2025 Annual Housing Infographic Download 2025 State of Maryland Housing Survey of Registered Maryland Voters Watch Maryland's Economy Begins at Home Download State of Maryland Housing 2025 Infographic
17 December November 2025 Housing Stats by Jacky Mueck Housing Stats 0 0 Comment 1429 Maryland Housing Market Out of Balance as Sales Fall and Choices Narrow Referencing data from the November 2025 Housing Statistics, Maryland REALTORS® calls for reform as Lock-in effect strains housing market. ANNAPOLIS, MD — December 16, 2025 — Home sales in Maryland fell 12.9 percent in November, with 4,769 homes sold compared to 5,474 a year earlier. The average sales price rose 6.7 percent to $521,146, while the median sales price increased 1.2 percent to $430,000. This wide gap between the average and median prices points to a “lock-in effect” in the housing market: higher-priced homes are selling, while many moderate- and lower-income households remain sidelined. The lock-in effect occurs when current homeowners stay put, even when they need or want to move, because they cannot find affordable or suitable homes to move into. Additional indicators reinforce this trend. The number of active listings declined 2.0 percent from last year; homes spent more time on the market (20 days compared to 12 days last year), and new listings fell 18.9 percent. Taken together, it signals a market with limited mobility and few choices for buyers. “When the average price is growing more than five times faster than the median price, it shows that Maryland’s housing market is increasingly serving only the top end,” said Denise Lewis, 2026 President of Maryland REALTORS®. “Families across the state need attainable options. We encourage the General Assembly to consider practical reforms that have worked elsewhere to help expand housing opportunity.” In September 2025, the Mercatus Center at George Mason University published a “menu of options” for states and local governments to improve housing opportunity and affordability. “Maryland’s home prices are among the slowest growing in the nation since 2005, and yet those prices remain higher than in any bordering state,” said Salim Furth, Senior Research Fellow at the Mercatus Center. “There is clearly room to make it easier, cheaper, and less uncertain to build homes in the Old-Line State.” Additional Resources Download November 2025 Housing Statistics Download November 2025 Housing Infographic Download 2025 State of Maryland Housing Survey of Registered Maryland Voters Watch ADUs: A Common Sense Solution Watch Maryland's Economy Begins at Home Download State of Maryland Housing 2025 Infographic
1 December Start Your Year with Insight: Join Us for the First Friday Economic Outlook Forum by Jacky Mueck Events 0 0 Comment 831 As a Maryland Realtor, staying ahead of economic trends isn’t just helpful—it’s essential. That’s why the First Friday Economic Outlook Forum is the perfect way to kick off your new year with clarity, confidence, and connection. 📅 Event Date: Friday, January 9, 2026 📍 Location: Hilton Baltimore BWI Hotel, Linthicum Heights, MD 🔗 Register Here This highly anticipated event brings together top economists, industry experts, and thought leaders to break down what lies ahead for the housing market, interest rates, inflation, and the broader economy. Whether you're a seasoned broker or just starting out, the insights shared here can shape your strategy for the months to come. Special Guest: Governor Wes Moore The Maryland Bankers Association (MBA) is honored to announce Maryland Governor Wes Moore will headline the 19th Annual First Friday Economic Outlook Forum with a special luncheon address on Friday, January 9, 2026, at the Hilton Baltimore BWI Hotel. Governor Moore will present his vision for Maryland’s economic future, highlighting strategies to accelerate growth, foster innovation, and enhance the state’s competitive position in an evolving marketplace. His remarks will offer attendees exclusive insight into policy priorities shaping banking, business, and community development across Maryland. "Maryland’s strength lies in our ability to innovate and work together," said Governor Wes Moore. "As we look ahead to 2026, our focus is on creating an economy that works for everyone, one that drives growth, attracts investment, and ensures opportunity in every community. I look forward to sharing these priorities and engaging with leaders at the Economic Outlook Forum." "Governor Moore’s leadership is instrumental in building a resilient and inclusive economy," said MBA President & CEO Tisha Edwards. "We are delighted to provide this unique opportunity for banking and business leaders to hear directly from the Governor about Maryland’s economic priorities for 2026 and beyond." Why Attend? Actionable Economic Forecasts: Gain a clear understanding of the economic forces that will impact Maryland’s real estate market in 2026. Local and National Perspectives: Hear from experts who understand both the national outlook and the unique dynamics of our state and regional markets. Networking with Purpose: Connect with fellow Realtors, lenders, and industry professionals who are just as committed to success in the new year. Strategic Start to the Year: Use what you learn to refine your business plan, guide your clients more effectively, and make informed decisions from day one. Whether you're looking to better advise your clients, plan your investments, or simply stay informed, the First Friday Economic Outlook Forum is your launchpad for a successful year in real estate. Don’t miss this opportunity to start strong. Join us for a morning of insight, inspiration, and invaluable connections.
17 November October 2025 Housing Stats by Jacky Mueck Housing Stats 0 0 Comment 2045 Maryland Home Sales Drop 5.3% as Affordability Crisis Fuels Out-Migration State sees rising inventory but persistent price pressure. ANNAPOLIS, MD — November 17, 2025 — Maryland home sales fell 5.3 percent in October, with 5,707 homes sold compared to 6,024 a year earlier, according to the latest Maryland REALTORS® Housing Statistics. Even as sales declined, prices continued to rise: the average sales price increased 3.0 percent to $520,398, and the median price increased 2.9 percent to $437,500. The market also showed early signs of loosening. Homes spent 17 days on market, up from 13 days in October 2024, and months of inventory held at 2.7, suggesting supply may be beginning to climb off historic lows. “Maryland’s housing market remains difficult for many families, especially those searching for something affordable,” said Denise Lewis, 2026 President of Maryland REALTORS®. “We’re now seeing younger residents and middle-income households leave the state for more attainable options elsewhere. It raises a real question: how much out-migration will it take before local governments seriously address restrictive land-use and zoning policies?” Lewis pointed to findings in the Maryland Comptroller’s Housing Report, which notes that an average of 40,000 residents leave the state each year. Maryland REALTORS®’ State of Housing Survey of Maryland Voters similarly found that 42 percent of younger renters are considering leaving because of high housing costs. “We need state and local governments working together to expand housing options for Marylanders,” Lewis said. “The time for action is now — Maryland should continue to be known as the Free State, not the NIMBY State.” Additional Resources Download October 2025 Housing Statistics Download October 2025 Housing Infographic Download 2025 State of Maryland Housing Survey of Registered Maryland Voters Watch ADUs: A Common Sense Solution Watch Maryland's Economy Begins at Home Download State of Maryland Housing 2025 Infographic
13 October September 2025 Housing Stats by Jacky Mueck Housing Stats 0 0 Comment 2210 Maryland Home Sales Hold Steady in September Closings essentially flat year over year as prices inch up and days on market lengthen ANNAPOLIS, MD — October 13, 2025 — Maryland’s housing market was virtually unchanged in September, with 5,604 homes sold—just six fewer than September 2024’s 5,610 closings (–0.1%), according to Maryland REALTORS®’ Housing Statistics. The average sales price rose 1.8% to $503,306, while the median price increased 1.4% to $430,000. “This is what a market finding balance looks like,” said Denise Lewis, 2026 President of Maryland REALTORS®. “Sales were essentially flat with last year; prices nudged higher—not surging—and buyers had more time and leverage than a year ago. That combination points to a healthier, more sustainable market.” Days on market lengthened to 17 days, up from 11 in September 2024. “When homes take longer to sell, it’s a sign that the frenzy has cooled,” Lewis added. “Serious buyers are back in the driver’s seat on timing and negotiations, and sellers who price to the market are still getting to the closing table.” Maryland REALTORS® noted one key uncertainty: the federal government shutdown that began after Congress failed to pass funding by the September 30 deadline. With roughly 5.7% of Maryland’s workforce employed by the federal government, a prolonged lapse could introduce delays for some loans and dampen confidence in federal workforce hubs. “We’re monitoring the shutdown’s impact closely, especially in communities with high concentrations of federal employees and in areas where flood insurance or federal loan programs are part of the transaction,” Lewis said. “We urge Congress to resolve funding quickly. The longer this lasts, the more friction we’ll see in deal timelines and planning.” For consumers, Maryland REALTORS® advises realistic pricing for sellers and flexible timelines for buyers, particularly when transactions involve federal verifications, USDA, FHA, VA, or flood-insurance requirements. Additional Resources Download September 2025 Housing Statistics Download September 2025 Housing Infographic Download 2025 State of Maryland Housing Survey of Registered Maryland Voters Watch ADUs: A Common Sense Solution Watch Maryland's Economy Begins at Home Download State of Maryland Housing 2025 Infographic
13 October Maryland REALTORS® Urges Consumers to Stay Informed During Federal Government Shutdown. by Jacky Mueck News 0 0 Comment 3834 The Association warns of increasing housing impacts if federal shutdown persists ANNAPOLIS, MD — October 13, 2025 — Maryland REALTORS® is urging consumers, policymakers, and industry partners to stay informed as the ongoing federal government shutdown threatens to disrupt critical housing programs across the state. “Each day the shutdown continues, uncertainty grows for Maryland families trying to buy or sell a home,” said Maryland REALTORS® 2026 President Denise Lewis. “While our industry remains resilient, extended disruption to federal housing programs could delay closings, limit access to flood insurance, and create financial hardship for thousands of households.” REALTORS® in Maryland and nationwide are advocating for home buyers and sellers, warning federal leaders of the impacts a prolonged shutdown will have on our communities and our economy. National Flood Insurance Program (NFIP): During a lapse in government funding, the NFIP may be unable to issue new or renewal flood insurance policies. Existing policies will remain active until their expiration dates, and claims will continue to be paid while funds last. NFIP policies can still be transferred from sellers to buyers during a lapse, and most lending regulators have provided flexibility to support transactions. Consumers are encouraged to speak with their REALTOR® about private market flood insurance options during the shutdown. U.S. Department of Agriculture (USDA) Loans: Direct and guaranteed loan programs through USDA will be significantly affected. No new direct or guaranteed loans will close during the shutdown, though some pending conditional commitments may be reviewed and processed if possible. Guaranteed loan closings without a previously issued guarantee may proceed at the lender’s risk. Disbursements on existing construction loans may continue to protect USDA’s interests, but rental assistance and loan servicing activities will be extremely limited until the government reopens. Department of Veterans Affairs (VA) Loans: The VA will continue guaranteeing home loans during a shutdown, allowing lenders to process applications. However, staffing reductions may delay appraisals, approvals, and the issuance of certificates of eligibility. Veterans are advised to consult their lenders for updates on processing times. Understanding What’s at Stake A lapse in the NFIP would leave millions of Americans vulnerable during peak hurricane season and disrupt real estate transactions across more than 20,000 communities nationwide. · Nearly every U.S. county (98%) has experienced a major flood disaster in the past two decades. · Just one inch of floodwater can cause an average of $25,000 in damage. · Without NFIP coverage, families must rely on limited federal disaster aid. · The National Association of REALTORS® estimates that an extended NFIP lapse could impact 1,400 home sales per day nationwide. Such a disruption would put American homes, businesses, and communities at significant risk and should be avoided. Impact on Maryland With 3,190 miles of coastline, Maryland ranks 10th in the nation for total shoreline exposure. · Estimated number of home sales at risk: 452 per month (15 per day) · Estimated economic impact: $756 million in lost local income annually If the Shutdown Lasts Two Weeks A short-term shutdown would likely cause transaction delays rather than cancellations, with most buyers and sellers in non-flood zones able to close on schedule. However, flood-zone sales could stall temporarily due to NFIP’s lapse, and USDA-backed loans may pause until normal operations resume. Maryland’s real estate industry could experience a short-term slowdown of approximately 150 home sales statewide, based on historical data—representing several million dollars in deferred local income and economic activity. If the Shutdown Lasts One Month A month-long shutdown would create a backlog in loan approvals, flood insurance issuance, and property closings, particularly in coastal counties. · Roughly 450 home sales per month could be delayed or lost. · More households would turn to private flood insurance, often at higher cost. · Reduced consumer confidence—especially among the state’s large population of federal employees—could dampen housing demand and local spending. The resulting economic loss could exceed $60–70 million in local income for that month alone. If the Shutdown Extends Longer A prolonged shutdown would have cascading effects across Maryland’s housing market and economy. · NFIP funding could be depleted, delaying claim payments. · USDA and FHA loan pipelines could freeze. · Lenders may tighten credit standards or defer closings in flood-prone regions. · Local governments could see lower transfer-tax and recordation-fee revenues. An extended lapse could imperil thousands of transactions statewide and cost communities hundreds of millions in local income. Rural and coastal areas would face the most significant challenges. Maryland REALTORS®’ Commitment Maryland REALTORS® remains committed to ensuring that consumers, property owners, and real estate professionals have access to accurate, timely information during periods of federal uncertainty. Consumers seeking guidance are encouraged to contact their local REALTOR® for assistance navigating the current conditions and exploring available options.
16 September August 2025 Housing Stats by Jacky Mueck Housing Stats 0 0 Comment 4132 Maryland Housing Market Cools as Sales Decline and Listings Dry Up Pending contracts rise, but fewer new listings and longer days on market point to tightening conditions ANNAPOLIS, MD — September 15, 2025 — Maryland’s housing market continued to cool in September, with home sales falling 9.1% year-over-year. A total of 5,830 homes changed hands compared to 6,411 in September 2024, according to the latest housing data from Maryland REALTORS®. Despite fewer transactions, prices kept climbing. The average sales price rose 4.5% to $519,410, while the median price increased 2.4% to $435,000. Pending contracts ticked upward by 4.6%, but active inventory dipped slightly (–0.5%), new listings fell sharply (–18.3%), and homes are taking longer to sell: the median days on market jumped to 16, up from just 10 a year ago. “Maryland’s market is sending mixed signals,” said Cheryl Abrams Davis, 2025 President, Maryland REALTORS®. “Buyers are still competing for fewer listings, which is pushing prices higher, but homes are also sitting longer before closing. This mismatch shows why bold action is needed: our state leaders are moving in the right direction, but local governments must step up with zoning reforms and permit approvals to get more homes built.” Earlier in August, the Maryland Department of Housing and Community Development announced that in Fiscal Year 2025, the state financed $1.64 billion in new development projects and another $1 billion in acquisition mortgages for first-time home buyers. Then, on September 3, Governor Wes Moore signed an Executive Order to address Maryland’s ongoing housing crisis, underscoring the foundational role housing plays in every community. The order tackles several issues, including: Reducing and streamlining permitting and review processes Identifying state-owned properties for potential housing near transit hubs Working with local jurisdictions to set housing production targets at the county and municipal level “If you want to create wealth, start with housing,” said Maryland Governor Wes Moore. “If you want to create jobs, start with housing. If you want to attract new businesses, start with housing.” ### Additional Resources Download August 2025 Housing Statistics Download August 2025 Housing Infographic Download 2025 State of Maryland Housing Survey of Registered Maryland Voters Watch ADUs: A Common Sense Solution Watch Maryland's Economy Begins at Home Download State of Maryland Housing 2025 Infographic
14 August July 2025 Housing Stats by Jacky Mueck Housing Stats 0 0 Comment 2129 Maryland Home Sales Slow as Housing Shortage Deepens REALTORS® urge local governments to zone for middle housing as state faces a 300,000-unit affordability gap ANNAPOLIS, MD — August 13, 2025 — Maryland’s housing market cooled in July, with home sales falling 9.6% compared to the same month last year. A total of 6,086 homes sold, down from 6,736 in July 2024, according to Maryland REALTORS®’ Housing Statistics. Despite the slower pace, prices continued to rise. The average sales price increased 4.1% to $532,404, while the median sales price climbed 2.8% to $445,000. Pending sales — homes under contract but not yet closed — fell 2.1%, marking their first decline since February 2025. Meanwhile, active inventory edged up 0.5% and the state recorded 2.6 months of inventory in July (six months is considered a balanced market). Homes spent a median of 13 days on the market, up from 8 days a year ago. “When homes take longer to sell, it signals a more deliberate buyer environment, and that’s what we’re seeing today,” said Cheryl Abrams Davis, 2025 President, Maryland REALTORS®. “Affordability remains a top issue, and it will remain so until local governments begin to zone for middle housing and other affordable options for more Marylanders.” A recent report from the University of Maryland’s National Center for Smart Growth estimates the state faces a shortage of nearly 300,000 affordable housing units, disproportionately affecting residents with limited and fixed incomes, older adults, and historically marginalized groups. “Our cities and counties can do something about this,” Abrams Davis added. “If local government doesn’t have the will, economic vitality will suffer as buyers look for more affordable homes outside this great state. We must do better.” # # # Additional Resources Download July 2025 Housing Statistics Download July 2025 Housing Infographic Download 2025 State of Maryland Housing Survey of Registered Maryland Voters Watch ADUs: A Common Sense Solution Watch Maryland's Economy Begins at Home Download State of Maryland Housing 2025 Infographic
16 July June 2025 Housing Stats by Jacky Mueck Housing Stats 0 0 Comment 7352 Maryland Home Sales Slide 1.3% in June as Market Shows Signs of Shifting Toward Buyers Days on Market Rises to 11; Price Reductions Gain National Momentum ANNAPOLIS, MD — July 16, 2025 — Maryland’s housing market experienced a modest slowdown in June, with 6,479 homes sold statewide, marking a 1.3% decline compared to June 2024 (6,563 homes), according to data released by Maryland REALTORS®. Despite the dip in activity, home prices continued to climb. The average sales price in June reached $543,801, up 3.9% year-over-year, while the median price rose 3.3% to $450,000. In Maryland, homes are taking longer to sell. The median Days on Market climbed to 11 days, a three-day increase over the same time last year. National Market Cooling: Builders Pull Back, Buyers Wait Maryland’s market reflects national trends. According to the National Association of Home Builders/Wells Fargo Housing Market Index, builder confidence plunged to 32 points in June—its lowest level in over two years. Measures of current and future sales, along with buyer foot traffic, are all on the decline. Meanwhile, homes are sitting longer on the market across the country, and price reductions are on the rise. “Maryland, along with other markets across the country, is seeing an increase in the number of price reductions. If this continues, it could indicate a shift toward a buyer’s market,” said Cheryl Abrams Davis, 2025 President of Maryland REALTORS®. “This is where a REALTOR® makes a real difference—helping buyers and sellers read the market, time their decisions, and navigate trends to get the best outcome.” Maryland REALTORS® encourages consumers to visit the "REALTOR® Value" section on MarylandHomeownership.com to learn more about how REALTORS® advocate for their clients. # # # Download June 2025 Housing Statistics Download June 2025 Housing Infographic Download 2025 State of Maryland Housing Survey of Registered Maryland Voters Watch ADUs: A Common Sense Solution Watch Maryland's Economy Begins at Home Download State of Maryland Housing 2025 Infographic
2 July West Virginia Repeals Physical Office Requirements by Jacky Mueck Law , News 0 0 Comment 2588 Recently, the West Virginia State Legislature passed Senate Bill 747, to create an exception for nonresident brokers to maintain physical office space within West Virginia. The exception states that “nonresident brokers who maintain a definite place of business in his or her jurisdiction of residence may not be required to maintain an office” in West Virginia. Maryland residents with a Maryland office location will no longer be required to maintain a physical office location in West Virginia in order to hold a West Virginia broker's license. Because of this change, West Virginia residents who hold a Maryland broker’s license will no longer be subject to similar provisions in Maryland’s Real Estate Brokers Act. Therefore, if you are a nonresident real estate broker and reside in West Virginia, you will no longer be required to maintain a physical office location in Maryland to be in compliance with MD Code, Business Occupations & Professions, §17–517. For more information, please see the highlighted portion of the following newsletter from the West Virginia Real Estate Commission or reach out to the West Virginia Real Estate Commission directly.