Cumberland, MD - Latest New home Sales Remain Steady
Posted on: May 06, 2012 09:22:40 AM
Sales of new homes in the Cumberland, MD market remained steady year-over-year in January, staying flat after dropping year-over-year in December from the year earlier. Sales remained level at none from a year earlier after the figure moved from one in December 2010 to none in December 2011.
For new and existing homes, sales fell in January after also declining in December year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) sales continued to drop from a year earlier in January, but did not appear to be dragging the market. Out of all existing home sales, foreclosures combined with REO sales accounted for 17.4% of sales, below 50.0% a year earlier. The percentage of existing home sales involving foreclosures slid to 13.0% in January from 27.8% a year earlier while REO sales as a percentage of existing home sales dropped to 4.3% from 22.2% a year earlier.
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