Buyers of single-family existing homes across Maine are still encountering a lower-than-normal inventory of homes available for purchase. According to Maine Listings, 1,289 homes changed hands in November, a decline of 28.7 percent from November one.
Buyers of single-family existing homes across Maine are still encountering a lower-than-normal inventory of homes available for purchase. According to Maine Listings, 1,289 homes changed hands in November, a decline of 28.7 percent from November one.
Prices are still rising, but at a slower pace than during the past two years, and mortgage rates fell slightly last month, according to data released Wednesday.
Higher mortgage interest rates coupled with the typical holiday slowdown have impacted the market. Single-family home transactions declined 28.7% last month compared to a year ago, but it was still the seventh-best November in 22 years.