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Sharp growth in residential sales and relative stability in the construction field during 2020 helped Maine s real estate industry weather a difficult year, experts said at a Maine Real Estate & Development Association conference on Thursday.
Those factors all contributed to the rise in the “MEREDA Index,” a measure of real estate activity designed to track changes in Maine’s real estate markets.
The index is a composite of seasonally adjusted measures reflecting new development and transactions involving existing properties and it covers both the commercial and residential markets statewide.
MEREDA unveiled the 2021 index Thursday morning at its spring conference.
The index is based on an economic analysis by Charles Colgan, professor emeritus of public policy and planning at the University of Southern Maine’s Muskie School of Public Service.