Greater Baltimore home sales rise for the first time since 2007 - Baltimore Business Journal:

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During the month, 2,375 homes were sold in Greateer Baltimore. That’s up 2 percent from June when 2,329 homes were sold. The hike marksw the first time since January 2007 that home sales increased in GreatefrBaltimore — Baltimore City and Anne Baltimore, Carroll, Harford and Howard counties. the median sale price of a home in Greater Baltimord during June fell more than7 percent, to $250,000. Home also stayed on the market 11percent longer, averaging 121 Economists say the uptick is likely linkex to first-time homebuyers taking advantage of the federalp government’s efforts to boost the U.S. housinbg market. Those initiatives include an $8,000p tax credit.
But one local economist says he’sa not ready to say a recovery isunder way. “It’sz too early to say that the housingf marketis rebounding,” said Daraius an economist at ’s , in an interview “But it does show that there is some renewed optimism in the housing market.” Irani expects at leastt six months before the nation’s Gross Domesticf Product — an indicator of growth in the U.S. — showes signs of moving upward.