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• May 14, 2008 5:56 pm US/Eastern
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  Housing Sales In Md. Hit The Skids

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Housing Sales In Md. Hit The Skids

BALTIMORE (WJZ) ― Maryland's housing sales hit the skids.  The National Association of Realtors reports first quarter declines in sales in Maryland lead the nation. 

As political reporter Pat Warren explains, there are lots of reasons.

From comfy-cozy a year ago to out in the cold today.  Housing dreams are turning to nightmares and there are all kinds of reasons.  The economy is down, the prices are too high and then there are realtors who think too many buyers are just running scared.

"Buyers are being more cautious," said Connie Jones.

Maryland housing sales are down 38.6%, according to the National Association of Realtors.  That's the biggest decline in the nation in the first three months of this year.

For many sellers caught in the crunch, need--not greed--trumps reason.  They can't bring themselves to sell at a loss.

Governor O'Malley says Maryland will recover easier than many other states based on the strength of the job market here.

(© MMVIII, CBS Broadcasting Inc. All Rights Reserved.)

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