Year-on-Year Home Sales Numbers May Mask Current Trends

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Portland, ME – Maine home sales in February outpaced the numbers for the same month last year by 21.72%, although the median sales price (MSP) fell back by -4.42% to stand at $160,000 year-on-year. The figures were released by Maine Listings this week.

On the nation scene the National Association of Realtors (NAR) reported an increase in both home sales and prices across the country with the northeast region also seeing rising sales.

Commentators have voiced concern, however, about a down turn in sales nationwide when comparing month-on-month statistics citing a lack of inventory and resultant upward pressure on pricing creating affordability issues for some buyers.

“Sales took a considerable step back in most of the country last month, and especially in the Northeast and Midwest,” according to Lawrence Yun, NAR’s chief economist. “The main issue continues to be a supply and affordability problem. Finding the right property at an affordable price is burdening many potential buyers.” 

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