Maine has the highest percentage of second homes in the country, and Portland has been named the nation’s hottest luxury real estate market for almost a year. Entrepreneurs are cashing in on the trend.
home sales
Posted inBusiness, Nation & World
U.S. home sales fall for the 3rd straight month amid rising mortgage rates, high prices
Sales of previously occupied homes fell in May for the 3rd straight month as rising mortgage rates and record-high prices discouraged many prospective homebuyers.
advertisement
Posted inArts & Entertainment, Local & State
Deer Isle home of late musician Dan Fogelberg is for sale
The waterfront property off Eggemoggin Reach is on the market for $2.4 million, and many of his belongings from the estate will be sold at auction this month.
Posted inBusiness, Local & State, News
Maine home sales rise for third month, and prices inch closer to record high
In April, 933 homes were sold in Maine and the median sale price was $382,000, according to data released Wednesday.
Posted inBusiness, Local & State
Maine home sales increased again in March and prices neared historic highs
Home prices usually peak in the summer. As the season heats up, real estate experts worry home ownership could grow farther out of reach for many Mainers.
Posted inBusiness
Homebuyers’ quandary: To wait or not to wait for lower mortgage rates?
Holding out for a more attractive rate can make a big difference, especially for first-time homebuyers who often struggle to find an affordable home. But lower rates could drive up prices, too.
Posted inBusiness, Local & State, News
Maine home sales broke records in 2023. But not the good kind.
The median sales price rose to $360,000 last year – and more than $500,000 in Cumberland County – as high demand and low inventory continue to squeeze the real estate market.
Posted inBusiness, Nation & World
The average long-term U.S. mortgage rate slips to 7.76% in first drop after climbing 7 weeks in a row
The average rate on a 30-year home loan climbed above 6% in September 2022 and has remained above that threshold since.
Posted inBusiness, News
Lack of inventory hurt Maine home sales in September
The overall number of homes for sale last month increased by 2% from August, but there’s still a huge demand and a tiny inventory.
Posted inBusiness, Local & State, News
Maine housing market stuck on falling sales, rising prices
It’s the same old song and dance as a tight inventory slows sales and pushes some prices up.