{"id":10838,"date":"2022-05-25T10:22:01","date_gmt":"2022-05-25T14:22:01","guid":{"rendered":"https:\/\/news.maryland.gov\/dhcd\/?p=10838"},"modified":"2022-05-25T10:21:03","modified_gmt":"2022-05-25T14:21:03","slug":"maryland-housing-beat-quarterly-report-q1-2022","status":"publish","type":"post","link":"https:\/\/news.maryland.gov\/dhcd\/2022\/05\/25\/maryland-housing-beat-quarterly-report-q1-2022\/","title":{"rendered":"Maryland Housing Beat: Quarterly Report – Q1 2022"},"content":{"rendered":"\n

DHCD develops newsletter for Housing Reporting<\/em><\/h2>\n
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This report is DHCD’s newest publication designed to keep our partners up-to-date on the latest housing market, foreclosure and resource information.\u00a0<\/p>\n

If you would like to continue to receive this information, subscribe to the “Maryland Housing Beat: Quarterly Report” by clicking the button below.\u00a0Thank you.\u00a0<\/p>\n

*Note: if you do not wish to receive this information, please disregard this email, but do not unsubscribe if you would like to continue to receive DHCD’s regular email communications.<\/p>\n

Sign up to receive the Maryland Housing Beat: Quarterly Report<\/a><\/p>\n

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First Quarter 2022<\/h1>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Housing Beat – State of Housing Market<\/h2>\n
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HOME SALES \u2013\u00a07,548 units sold<\/strong>\u00a0in March, a 11.3 percent decline since December and 8 percent lower than sales in March 2021.<\/p>\n

MEDIAN HOME PRICE- Increased from last quarter to\u00a0$375,000,<\/strong>\u00a08.7 percent higher than the first quarter of 2021.<\/p>\n

HOUSING INVENTORY \u2013 Decreased to\u00a05,896\u00a0units<\/strong>\u00a0in Maryland this quarter. Inventory increased in 11 jurisdictions since the first quarter of 2021.<\/p>\n

MONTHS\u2019 SUPPLY- The months\u2019 supply of homes for sale in Maryland was\u00a00.7 months<\/strong>\u00a0in March. All but one of Maryland\u2019s jurisdictions saw a decrease in month\u2019s supply since March 2021.<\/p>\n

DAYS ON THE MARKET- Homes for sale in Maryland spent an average of\u00a028\u00a0days<\/strong>\u00a0on the market in the first quarter. Two days shorter than last quarter but one day longer than the first quarter of 2021.<\/p>\n

View Report<\/a><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

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Property Foreclosure Events<\/h2>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
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Q1 2022<\/h3>\n

INCREASING FORECLOSURE ACTIVITY- Compared to the fourth quarter of 2021,\u00a0foreclosure events<\/strong>\u00a0grew in twenty-two Maryland jurisdictions and declined in two jurisdictions<\/p>\n

DEFAULT NOTICES \u2013 Default notices increased by 154 percent to\u00a0831 filings<\/strong>\u00a0in the first quarter.<\/p>\n

NOTICES OF FORECLOSURE SALES \u2013 Foreclosure sales notices decreased 16.2 percent from the prior quarter to\u00a0496 filings<\/strong>. Compared to the first quarter of 2021, however, foreclosure sales increased 53.6 percent.<\/p>\n

LENDER PURCHASES OF FORECLOSED PROPERTY \u2013\u00a0Lender purchases<\/strong>\u00a0increased 8 percent since the fourth quarter to 406. Compared with the same period last year, purchases increased by 124.3 percent.<\/p>\n

View Report<\/a><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Foreclosure Hot Spots<\/h2>\n
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FIRST QUARTER 2022\u2014There were 584\u00a0high foreclosure events<\/strong>\u00a0recorded across 34 communities, representing 66.4 percent of foreclosures across all hot spots and 34.5 percent of foreclosures statewide.<\/p>\n

Locations with a\u00a0very high foreclosure<\/strong>\u00a0recorded 233 events in 11 communities, representing 26.5 percent of foreclosures across all hot spots and 13.8 percent of foreclosures statewide.<\/p>\n

These communities had an average foreclosure rate of 368 and an average foreclosure index of 240.<\/p>\n

Three\u00a0severe foreclosure<\/strong>\u00a0communities recorded 63 foreclosure events, representing 7.2 percent of foreclosures across all hot spots and 3.7 percent of foreclosures in Maryland.<\/p>\n

View Report<\/a><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

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Homeowner Assistance Fund<\/h2>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
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The State of Maryland is offering free help\u00a0for homeowners affected by COVID-19 through the\u00a0Homeowner\u00a0Assistance\u00a0Fund. Financial\u00a0assistance\u00a0is available for past due mortgage payments, property taxes, home insurance, HOA fees and more.<\/p>\n

For more information, visit\u00a0homeownerassistance.maryland.gov<\/a>.\u00a0<\/p>\n

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Sign up to receive the Maryland Housing Beat: Quarterly Report<\/a><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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.\u00a0 If you would like to continue to receive this information, subscribe to the “Maryland Housing Beat: Quarterly Report” by clicking the button below.\u00a0Thank you.\u00a0 *Note: if you do  Read the Rest…<\/a><\/p>\n","protected":false},"author":179,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10838","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/10838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/users\/179"}],"replies":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/comments?post=10838"}],"version-history":[{"count":11,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/10838\/revisions"}],"predecessor-version":[{"id":10849,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/10838\/revisions\/10849"}],"wp:attachment":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/media?parent=10838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/categories?post=10838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/tags?post=10838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}