Rising interest rates have made it more difficult for prospective new homebuyers to compete in a hot housing market, according to local realtors.
housing
Posted inBusiness, Lewiston-Auburn
Auburn notches another banner year for growth
Fiscal year 2022 construction permitting surpasses estimated $74 million.
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Posted inMaine
Workforce housing proposed for Western Avenue in Augusta
The developer of the Stevens Commons site in Hallowell is hoping to build more than three dozen studio and one-bedroom apartments at 99 Western Ave. for people making up to 60% of the area’s average income.
Posted inBusiness, Maine
Many Portland area residents would need to double their income to afford a home
A new Harvard University report illustrates the growing affordability struggle for both homebuyers and renters across the country and in Maine.
Posted inBusiness, Maine
Maine home sales activity is slowing down, but it’s not a buyer’s market yet
May was largely a continuation of existing trends, with home sales down 12% and prices up 15% from a year ago.
Posted inBusiness, Lewiston-Auburn, News
Lewiston officials discuss approaches to housing growth, affordability
As need to bolster housing stock takes center stage, implications of LD 2003 at forefront.
Posted inBusiness, Maine, News
Some of Maine’s seasonal businesses are going to extremes to house workers
Tourism-reliant businesses are renting out hotel rooms and private residences to staff, and a few are even building new housing for their seasonal workforce.
Posted inBusiness, Nation / World, News
Mortgage rates edge up, adding hundreds to buyers’ monthly payments
High prices and multiple-offer situations have made it almost impossible for first-time home buyers to purchase property this spring. Rising mortgage rates compound that problem.
Posted inMaine, News
Watch: Fire destroys 122-year-old Farmingdale house under renovation to be sold
The Northern Avenue home, owned by John Jaques of Keller Williams Realty, was under renovation and nearing completion as a four-bedroom, two-bathroom home.
Posted inMaine, Uncategorized
Maine launches $50 million homeowner assistance fund
Benefits of up to $25,000 per household will be available for those who are at risk of losing their homes due to COVID-related financial hardships.