Darci Marchese, wtop.com

WASHINGTON – Own a home? Get ready for some good news — for a change.

Pending home sales across the country were up 2 percent in January 2012 compared to January 2011, according to the National Association of Realtors. That’s the highest since April of 2010, when the first Home Buyer Tax Credit was enticing buyers.

As for the D.C. area, John McClain, senior fellow at George Mason University, says pending home sales went up 8 percent when comparing January 2012 to December 2011. Pending home sales increased by nearly 12 percent from a year ago.

The big surprise may be in Maryland.

“Maryland is beginning to re-gain some growth in the market,” McClain says.

McClain says pending home sales in Maryland went up nearly 8 percent in January 2012 from December 2011 and shot up 28 percent from a year ago. Foreclosures that have been stuck in the court system may finally be getting sold in Maryland, he says.

D.C. also saw pending sales increase in January. McClain says they went up 5 percent month-to- month and 8 percent year-to-year.

“D.C. looks very strong.”

However, in Virginia, pending sales decreased by more than 10 percent month-to-month and decreased about 5 percent year-to-year.

McClain says Virginia is probably the first state in the country to have fully recovered and the decrease represents a new “normal” market. He isn’t concerned that a downward trend will continue.

Pending home sales indicate a contract has been placed on the home.

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