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Area housing market shows continuing recovery

The Baltimore area home market showed more signs of recovery last month, as sales hit their highest March mark since 2007 and new contracts rose for a 10th straight month, a real estate analyst reported Friday. Closed sales rose 23.6 percent compared with March 2014, with gains across the board led by townhomes, followed by single-family homes and condominiums, according to the report by RealEstate Business Intelligence, a subsidiary of Metropolitan Regional Information Systems. New contracts in March also showed strong gains in all housing categories, rising nearly 20 percent compared with March 2014 to mark the single best month for new contracts since March 2006. Meanwhile, a large...