March 2020 Housing Statistics

See below the latest real estate statistics for March 2020, overall statistics for Maryland as well as by county. Most counties continue to exceed last year in growth, however, we continue to have a shortage in inventory making it difficult for those looking for a new home.

  Although we may want to dig a hole and stay in it to weather this out, we still have a viable market and there is a demand for sales and purchases.

The Governor has deemed real estate as an essential business and we continue to work mostly remotely assisting buyers, sellers, and renters with their needs. Like most of us, I was anxiously awaiting these reports to see how this COVID-19 was going to affect the real estate business and our economy.

As you can see from the report, we remain in growth over our last month and last year. I guess the takeaway is that when we have to move, we have to move. However, I realize that those of us who do not have to move immediately are more apprehensive about moving forward in a purchase or sale of our homes. Understandably this scare has us all a little uneasy with businesses being closed and people out of work.

I guess we will have to wait to see what the aftermath of this pandemic will bring. l will remain optimistic, and in that spirit, let us all remain optimistic and trust that our economy will bounce back even stronger and more family-oriented.

In that light, hopefully, we all are seizing the opportunity to become more grounded and feeling blessed in being able to spend more time with our families.

Wishing you all peace and grace that this passes over you and your families.

Stay safe.