Report Indicates Housing Market Rebound Slower in Maryland than Other States

According to the latest Standard & Poor’s Case-Shiller Housing Report, Maryland performs well on certain housing indicators over the longer term, but when comparing fourth quarter 2008 to fourth quarter 2009, housing prices in Maryland fell at a greater rate than the national average.

Nationally, prices have fallen 27 percent from the fourth quarter of 2006 to the fourth quarter of 2009. In Maryland, they fell 15.2 percent over that period.

But Maryland has fared slightly worse than the national average from fourth-quarter 2008 to fourth-quarter 2009. The Baltimore region saw prices fall 3 percent over that year, whereas the national average was a 2.5 percent decline.

The Report also indicates that housing prices may fall due to the discontinuance of tax incentives and increased foreclosures.

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