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Consumer Confidence

Home sales show best January in eight years

Home sales show best January in eight years

Confidence in the economy and low interest rates contributed to the best January home sales the Baltimore area has seen in eight years, suggesting a strong start to the spring market, analysts and real estate agents said.

Showings at open houses this month exceeded agents' expectations, and a few reported something they haven't seen since the real estate crash of 2008: buyers signing agreements to automatically boost their offer if the seller gets a higher bid.

"We're going to have a great spring" said Ross Mackesey, president of the Greater Baltimore Board of Realtors. "I don't see anything on the horizon that's going to be a break in that."