The year kicked off with the same trends from 2024.
home sales
Posted inBusiness, Maine, News
Why the dream of a starter home in Maine is slipping out of reach
Young people can’t find or afford houses in their communities. Families can’t move out of places they’ve outgrown. The cycle is stuck. Can it be fixed?
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Posted inBusiness, Maine
Maine home prices hit a new high in 2024. Don’t expect them to come down.
The median price for a Maine home reached a record $390,200 in 2024, but the year also saw sales increasing after years of declines.
Posted inBusiness, News
Maine home prices cooled in November as inventory rose
The median sales price was $385,000, down from the previous month but up 8.5% from November of last year.
Posted inBusiness, News
3 Maine counties now have median home price over $500,000
The state’s ongoing inventory shortage, coupled with the high demand for single-family homes, has led to a record-breaking year for home prices in Maine.
Posted inBusiness, Nation / World, News
Average rate on 30-year mortgage in U.S. rises for fifth straight week
The average rate on a 30-year home loan hasn’t been this high since Aug. 1.
Posted inBusiness, Maine, News
Maine home sales, prices jumped again in September
The median home sale price in Maine last month was over $409,000 – another record.
Posted inBusiness, News
Maine home sales rose slightly in August
Mortgage rates dropped in anticipation of the Federal Reserve’s first rate cut in more than 4 years, meaning buyers who were priced out may start house hunting again.
Posted inBusiness, Nation / World, News
U.S. home sales fell in August despite easing mortgage rates, more homes on the market
The national median sales price rose 3.1% from a year earlier to $416,700. That’s the highest median price for August on records going back to 1999.
Posted inBusiness, Nation / World
Average rate on 30-year mortgage falls to 6.20%, its lowest level since February 2023
Lower mortgage rates would help boost home shoppers’ purchasing power. But many economists’ forecasts call for the average rate on a 30-year home loan to remain above 6% this year.