Maryland Home Prices Rise as Market Remains Competitive

Maryland's housing market slowed in August with home sales down 8.5% from last year and pending sales declining 1%, ending a year-long growth streak. New listings dropped 23.6%, leading to a 13.7% decrease in active inventory, resulting in fewer choices for buyers. Despite lower sales, median and average home prices rose by about 2.3-2.5%. Maryland's supply shortage contrasts with national trends, where inventory slightly increased.