A Baltimore Sun report shows a serious slowdown one market. "Home sales in Carroll County plunged in January, but industry insiders say they expect the market to rebound, possibly as soon as this month. Sales in Carroll County fell last month more than 38 percent below the level of January 2005, and area home prices rose only 5.6 percent, a rise that is significantly less than in any other part of the Baltimore region."

"'Last spring is gone,' said Judy Tyree, (brokerage) office manager in Westminster. 'We are not seeing escalating clauses and multiple bids. Now houses are staying on the market longer.'"

"'Toni Braglio, president of the Carroll County Association of Realtors, called the drop 'a seasonal dip before the spring market breaks loose.'" The housing prices are escalating rapidly and creating a great sellers market, she said."

"Comparing last month to January last year, when the area was still riding a hot market fueled by high prices, competitive bidding and inventory shortages, creates the wrong impression, said Karen Donaldson, an agent in Westminster. In January 2005, 128 home sales were settled, compared with 79 settled last month."

"'We are coming off of three years of the most awesome real estate market,' said Donaldson, an agent with 18 years' experience. 'Those years were not anywhere near normal. The market usually slows down in the last quarter, but sales will even out in February.'"