Nationally, job growth picked up this month & added 288,000 jobs between March & April. This is the largest gain in over 2 years. The unemployment rate dropped sharply. It has not been this low since 2008. Buyer activity in Southern Maryland was off to a slow start this April, however, new pending contracts increased rising 9% since last April. Seller activity continues to rise & the inventory level has now increased from the prior year for 10 months in a row. Active listings increased 20% since last year. The median Days on Market average is 67 days.
Despite the Spring weather, buyer activity did not rebound from the earlier winter patterns as expected, but Seller activity increased & their were more new listings on the market than in the past 4 years. This new supply of homes for sale may help boost sales in the upcoming months. Here is a 2 min video with more area market information. Check back soon for an update on the May market!