SOUTH PORTLAND, Maine (AP) — Maine real estate agents say home sales surged in April as homebuyers rushed to take advantage of record-low mortgage rates and the federal home buyer tax credit.
The Maine Real Estate Information System said Monday that sales of existing single-family homes jumped by 63 percent over April 2009. The median sales price increased 3 percent, to more than $165,000.
In all, real estate agents sold 994 homes in Maine in April, up from 610 a year earlier.
The federal government provided a boost to home sales this spring by offering first-time buyers a tax credit of up to $8,000, but the program ended April 30.