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Jonathan Miller

Home sales rose, prices fell in Baltimore area in July

Home sales rose, prices fell in Baltimore area in July

As if foreclosures, high unemployment and tight credit weren't enough, would-be homebuyers in the Baltimore region got more fodder for wariness Wednesday as the Dow Jones industrial average plunged more than 500 points and a new local report showed housing prices continued to fall last month. The stock market gyrations — stoked by global economic concerns — also come on the heels of the Standard & Poor's credit-rating downgrade of mortgage financiers Fannie Mae and Freddie Mac and the U.S. government, a move that helped push already low mortgage rates lower but also added to uncertainty about housing. The regional housing market that has struggled to right...

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