Baltimore new home construction was up 40% over 2010, which economists often see as a sign of a housing market recovery.
According to an article in the Baltimore Business Journal, the Greater Baltimore region jumped 40%, while the more local Baltimore-Towson region rose 6%.
The December 2011 data for contracts for future residential construction rising a very large amount — $116 million versus $39.2 million in December 2010.
Towson new homes under construction, I am sure, helped a lot with these local numbers. The Towson Green community is well under way and should be delivering new homes in the upcoming months.
New construction tends to be a good indicator of a recovering market because builders won’t build if buyers aren’t there to buy them.
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