Statement From Governor Martin O’Malley On NATIONAL FEBRUARY HOUSING REPORT

ANNAPOLIS, MD (March 22, 2012) – Governor Martin O’Malley today released the following statement on the National Association of Realtors’ housing report:

“The median sales price of homes in Maryland rose in February for the first time since 2007, an important milestone in Maryland’s economic recovery. As our nation continues to recover, we are seeing signs of hope when it comes to homeownership. For the first time since 2007, sales of existing homes in January and February were at their highest level according to a report released by the National Association of Realtors, and in Maryland, home sales last month were 2.4 percent higher than a year ago.

“There is no more powerful place than a family’s home and nothing more important for protecting that home than a job. Protecting homeownership is a challenge so large that we can only tackle it together. Citizens, private companies, and governments at every level have a role to play, and all of us share a stake in the outcome. In Maryland, we’ve focused on comprehensive reforms to help our neighbors keep their homes, and making homeownership attainable for more residents through initiatives like the Maryland Mortgage Program. But we are not out of the woods, while we drove down foreclosure filings last year to their lowest level in four years, bank Notices of Intent to foreclose are on the rise.

“Progress is a choice. We are only as strong and competitive in this changing new economy as our ability and willingness to create jobs, help our families save their homes, and give more Americans the opportunity to realize the dream of homeownership.”