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Maryland Housing Beat: Quarterly Report – Q1 2022

DHCD develops newsletter for Housing Reporting

This report is DHCD’s newest publication designed to keep our partners up-to-date on the latest housing market, foreclosure and resource information. 

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First Quarter 2022

Housing Beat – State of Housing Market

HOME SALES – 7,548 units sold in March, a 11.3 percent decline since December and 8 percent lower than sales in March 2021.

MEDIAN HOME PRICE- Increased from last quarter to $375,000, 8.7 percent higher than the first quarter of 2021.

HOUSING INVENTORY – Decreased to 5,896 units in Maryland this quarter. Inventory increased in 11 jurisdictions since the first quarter of 2021.

MONTHS’ SUPPLY- The months’ supply of homes for sale in Maryland was 0.7 months in March. All but one of Maryland’s jurisdictions saw a decrease in month’s supply since March 2021.

DAYS ON THE MARKET- Homes for sale in Maryland spent an average of 28 days on the market in the first quarter. Two days shorter than last quarter but one day longer than the first quarter of 2021.

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Property Foreclosure Events

Q1 2022

INCREASING FORECLOSURE ACTIVITY- Compared to the fourth quarter of 2021, foreclosure events grew in twenty-two Maryland jurisdictions and declined in two jurisdictions

DEFAULT NOTICES – Default notices increased by 154 percent to 831 filings in the first quarter.

NOTICES OF FORECLOSURE SALES – Foreclosure sales notices decreased 16.2 percent from the prior quarter to 496 filings. Compared to the first quarter of 2021, however, foreclosure sales increased 53.6 percent.

LENDER PURCHASES OF FORECLOSED PROPERTY – Lender purchases increased 8 percent since the fourth quarter to 406. Compared with the same period last year, purchases increased by 124.3 percent.

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Foreclosure Hot Spots

FIRST QUARTER 2022—There were 584 high foreclosure events recorded across 34 communities, representing 66.4 percent of foreclosures across all hot spots and 34.5 percent of foreclosures statewide.

Locations with a very high foreclosure recorded 233 events in 11 communities, representing 26.5 percent of foreclosures across all hot spots and 13.8 percent of foreclosures statewide.

These communities had an average foreclosure rate of 368 and an average foreclosure index of 240.

Three severe foreclosure communities recorded 63 foreclosure events, representing 7.2 percent of foreclosures across all hot spots and 3.7 percent of foreclosures in Maryland.

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Homeowner Assistance Fund

The State of Maryland is offering free help for homeowners affected by COVID-19 through the Homeowner Assistance Fund. Financial assistance is available for past due mortgage payments, property taxes, home insurance, HOA fees and more.

For more information, visit


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