22 April March 2026 Housing Stats by Jacky Mueck Housing Stats 0 0 Comment 184 More Buyers, Fewer Homes: Maryland Market Tightens in March Demand is there, but lack of listings and policy inaction limit sales activity ANNAPOLIS, MD — April 13, 2026—Home sales in Maryland fell 4.4 percent to 4,874 units in March compared to a year ago, even as prices continued to rise. The average sales price increased 4.9 percent to $513,997, while the median price rose 1.6 percent to $430,000. Pending sales (homes under contract but not yet closed) rose 8.7 percent, signaling renewed buyer activity heading into the spring market. However, this demand is running headfirst into a shrinking supply of homes. Active inventory declined 21.7 percent, and new listings dropped 24.6 percent compared to last year. National housing data shows that while inventory remains below pre-pandemic norms, it is gradually improving, with active listings up roughly 8–10 percent year-over-year, according to Realtor.com and other industry sources. In contrast, Maryland’s inventory continues to decline, indicating the state is more supply-constrained than the broader U.S. market. “Buyers are clearly coming back into the market, but the supply simply isn’t there,” said Denise Lewis, 2026 President of Maryland REALTORS®. “Pending sales are up, but without more homes to buy, that demand can’t fully translate into closed sales.” Lewis said the ongoing shortage of listings continues to put upward pressure on prices and limit opportunities for buyers. “This is a supply problem, plain and simple,” Lewis said. “Until we see more homeowners listing and more homes being built, affordability will remain a challenge and sales will remain constrained.” Lewis pointed to long-standing policy barriers that continue to limit housing production across the state. “For years, local restrictions and a lack of political will have made it harder to build the housing Marylanders need,” she said. “And unfortunately, we’re seeing that continue in Annapolis, to the detriment of Maryland voters.” While the General Assembly appears poised to pass the Housing Certainty Act (HB 548 / SB 325) and transit-oriented development legislation (HB 894 / SB 389), Lewis said lawmakers have failed to fully address the state’s housing shortage. “Legislators are taking incremental steps forward, but still falling short where it matters most,” Lewis said. “They’re advancing some helpful measures, but they chickened out on the Starter and Silver Homes Act (HB 239/SB 36)—which would have created more attainable housing options—and turned the Bring Back Main Street initiative (HB 1137 / SB 829) into yet another study.” Lewis added that Maryland voters are looking for action, not delays. “We don’t need more studies—we need more homes,” she said. “Ignoring practical solutions and yielding to local government obstruction only makes the problem worse. If we’re serious about affordability, we must be serious about increasing supply.” Spring 2026 Forecast from the Sage Policy Group Maryland home sales were down 4.4% year over year in March 2026, a disappointing—albeit understandable—decline. While mortgage rates are down substantially from a year ago, they rose sharply over the past month, surging from an average of 5.98% for a 30-year fixed rate during the week ending February 26th to 6.46% by the first week of April. This precipitous increase in rates was caused by the conflict in Iran and the resulting rise in Treasury yields. While rates fell slightly during the second week of April, down to an average of 6.37%, it is unlikely that sub-6.0% rates will be seen again anytime soon; the simultaneous acceleration in both observed and expected inflation will continue to put upward pressure on borrowing costs. “Of course, that’s not the only way the Iran conflict has harmed the housing market,” said Anirban Basu, Chair of the Sage Policy Group. “The recent and rapid rise in oil and gas prices has already taken money out of consumers’ pockets. Just as damaging as the actual cost is the effect on consumer confidence, which is down 9% year over year according to the University of Michigan Consumer Sentiment Index.” Long-term, more severe impacts will emerge from higher diesel prices, which have risen at an even faster pace and will put upward pressure on a broad range of prices. While these broader macroeconomic and geopolitical factors will weigh on demand, Maryland’s supply dynamics represent another cause for concern. New listings are down significantly from one year ago, and that has put upward pressure on home prices, with average and median selling prices up 4.9% and 1.6% year over year, respectively. “Maryland’s economy also remains weaker than the nation at large,” added Basu. “The state has added jobs in just two of the past eight months, and total employment is down by nearly 50,000 over the past year. That has caused the state’s unemployment rate to rise to 4.3%, up more than 2 percentage points from the 2023 all-time low—and this has been compounded by a sharp decline in the state’s labor force, which has shrunk by over 25,000 people over the past year.” That’s the bad news, and while there’s a lot of it, there are also a few reasons for optimism. Pending sales are up nearly 9% from March 2025, and that bodes well for sales over the next few months. The lock-in effect of low fixed rate mortgages is also fading, and that should eventually bolster inventory levels. A timely resolution to the conflict in Iran would greatly improve the economic outlook for the remainder of the year, bolstering homebuying activity both in Maryland and across the rest of the country. “Ultimately, it appears that broader economic factors may rain on the spring selling season yet again in 2026,” Basu said. Additional Resources Download March 2026 Housing Statistics Download March 2026 Housing Infographic Download 2026 State of Housing Survey
1 April Maryland General Assembly 2026 Crossover Report by Jacky Mueck Advocacy 0 0 Comment 595 On March 23, the Maryland General Assembly reached an important milestone for the session: Crossover. This is the date where House bills should be approved by the House, and Senate bills by the Senate, in order to proceed to final passage under normal proceedings. Those bills that did not advance are not dead but will require more work to pass than those that moved before the deadline. The following is where key REALTOR® issues stand as of March 23: REALTOR® Initiatives: HB1029 / SB 691 - Allows all contract contingencies to be eligible for the expedited Earnest Money Deposit. returns Both bills have passed their original chamber. SB 814 - Addresses previously recorded liens tied to defunct companies that offered 40-Year Listing Agreements, creating a path to clear those liens from property titles. The bill passed in the Senate and will now be taken up in the House. HB 1132 - Updates the notice requirements, timelines, and allowable fees for Condo and HOA resale documents to improve transparency and consistency in transactions. The bill passed in the House and has moved to the Senate. Housing: The following pro-housing bills advanced: HB 548 / SB 325 - Establishes vesting protections so approved developments can proceed under the rules in place at the time of approval. HB 894 / SB 389 - Promotes housing and mixed-use development near transit to increase density and housing supply. HB 691 - Streamlines permitting processes to reduce delays in housing development. SB 31 - Places guardrails on Adequate Public Facilities Ordinances to prevent them from unnecessarily restricting housing growth. HB 1137 / SB 829 - The Bring Back Main Street bill, which would have allowed residential uses in commercial zones, was amended to require a DHCD study to be delivered before next session. Not advancing: HB 239 / SB 36 - Starter and Silver Homes Act, which would have promoted the construction of smaller, more affordable homes for first-time buyers and seniors. HB 778 - This bill was a REALTOR priority and would have expanded zoning allowances for duplexes, triplexes, and other “missing middle” housing types. Building Affordably in My Back Yard Act (BAMBY): Although SB 267 advanced in the Senate, all tax provisions and the 30-day Right of First Refusal were removed from the bill. What remains is a requirement for rental owners to provide contact information to DHCD for local code enforcement purposes, and a local option to create administrative approval for housing developments if there is a shortage of affordable housing. Landlord Tenant: As usual, several property management bills are advancing. These include air conditioning requirements (HB 153/SB 12) and screening requirements for criminal background and credit scores (HB 313/SB 335, HB 315, SB 937). However, Good Cause Lease provisions (HB 774/SB 462) and Rent Control (HB 1460) measures did not advance before Crossover. Housing Taxes: SB 674 / HB 916, which would fund regional transportation through transaction tax surcharges did not advance, nor did legislation to institute progressive transfer tax rates (HB 1213). Stay Up to Date with the 2026 Session For more information and status updates through the end of April 13, you can access the Priority Bill Report and the full Legislation Status Report.
17 March February 2026 Housing Stats by Jacky Mueck Housing Stats 0 0 Comment 693 Maryland Housing Market Shows Strong Prices Despite Fewer Sales in February Structural supply shortages continue to influence Maryland’s housing market ANNAPOLIS, MD — March 16, 2026— Home sales in Maryland fell 5.1 percent in February, with 4,016 homes sold compared to 4,233 a year earlier. Despite the decline in sales, home prices continued to rise. The average sales price increased 3.3 percent to $489,994, while the median sales price climbed 3.7 percent to $474,335. Pending sales—houses under contract but not yet closed—rose 5.1 percent to 4,981 units. At the same time, active inventory declined 19.2 percent, and new listings dropped 34.2 percent. Nationally, in comparison, existing home sales increased by 1.7% month-over-month in February, according to the National Association of REALTORS® Existing-Home Sales report. Month-over-month sales rose in the Midwest, South and West, and fell in the Northeast. Year-over-year sales rose in the South and fell in the Northeast, Midwest, and West. “What this tells us is that buyers are still participating in the market but shrinking inventory and a decline in new listings point to more structural supply issues,” said Denise Lewis, 2026 President of Maryland REALTORS®. “Years of underbuilding housing, caused largely by local zoning and land-use restrictions, have contributed to Maryland’s affordability crisis. Local governments have had years to address this issue, but many have lacked the political will to do so.” Lewis noted that the association is closely monitoring three housing-related bills in the Maryland General Assembly. The Maryland Transit & Housing Opportunity Act of 2026 would increase housing supply and affordability by encouraging denser development near public transportation. The Starter and Silver Homes Act of 2026 would expand opportunities for smaller homes, helping first-time buyers enter the market while also giving older homeowners options to downsize. The Housing Certainty Act of 2026 would provide greater predictability for housing developers by limiting regulatory changes after projects are approved. “These are three common-sense proposals that would help expand housing opportunities across Maryland while strengthening local economies,” Lewis added. “It’s a win-win for everyone.” Additional Resources Download February 2026 Housing Statistics Download February 2026 Housing Infographic Download 2026 State of Housing Survey Watch Maryland REALTORS® 2026 State of Housing News Conference
19 February January 2026 Housing Stats by Jacky Mueck Housing Stats 0 0 Comment 3077 Inventory Shortages Persist Despite Slower Home Sales Maryland REALTORS® call for reforms to boost housing supply and affordability ANNAPOLIS, MD — February 11, 2026 — Maryland home sales declined 11.9 percent in January, with 3,660 homes sold compared to 4,155 a year earlier. This could signal the early stages of a shift in market conditions to those favoring buyers. Inventory and days-on-market trends suggest some easing for buyers, even as supply challenges persist. The average sales price increased 3.4 percent year over year to $495,038, while the median sales price edged up just 0.5 percent to $410,000, reflecting slower price growth amid reduced sales activity. Buyer demand remains present, however. Pending sales — homes under contract — rose 8.1 percent compared to last year. At the same time, active inventory fell 13.2 percent, and new listings dropped sharply by 23.5 percent, tightening the supply of available homes. “With pending sales up, it clearly shows buyer demand is still there,” said Denise Lewis, 2026 President of Maryland REALTORS®. “What’s concerning is that active inventory and new listings are falling at the same time. Housing supply is not being replenished.” Persistent supply constraints continue to limit affordability across the state. One ongoing barrier to increasing housing availability has been resistance at the local and state levels to zoning and policy reforms that would allow for more housing options and greater affordability. Housing supply and affordability solutions were a central focus of the Maryland REALTORS® 2026 State of Housing News Conference held earlier this month. According to Lewis, nine in ten Maryland voters now say the cost of housing is too high. “In 2020, 57 percent of voters said the cost of buying a home was too high,” Lewis said. “By 2026, that number has climbed to 90 percent — an increase of 33 points.” At the news conference, Maryland REALTORS® reiterated support for several legislative proposals aimed at increasing housing supply and affordability, including: The Maryland Transit and Housing Opportunity Act of 2026 (HB 894/SB 389 The Starter and Silver Homes Act of 2026 (HB 239/SB 36) The Housing Certainty Act of 2026 (HB 548/SB 325), sponsored by Delegate Dylan Behler and Senator Malcolm Augustine HB 778, sponsored by Delegate Nick Allen, to expand middle housing options across Maryland “Taken together, these proposals would provide a much-needed boost to Maryland’s housing market by increasing supply, improving affordability, and strengthening the state’s economy,” Lewis said. “It’s also important to note that while 22 percent of Maryland voters say taxes are their top concern in 2026, none of these proposals would raise taxes on Marylanders. Maryland voters do not want to see an increase in taxes, this election year. Additional Resources Download January 2026 Housing Statistics Download January 2026 Housing Infographic Download 2026 State of Housing Survey Watch Maryland REALTORS® 2026 State of Housing News Conference
21 January December 2025 and Annual Housing Stats by Jacky Mueck Housing Stats 0 0 Comment 3560 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 3660 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 2724 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 4170 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 4188 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 5765 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.