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Home sales slow slightly in Maine, but prices rise again

August 23, 2021 GMT

PORTLAND, Maine (AP) — Home sales slowed somewhat in Maine in July, though prices rose again and the pace of sales remained higher than they were before the coronavirus pandemic.

The Maine Association of Realtors said on Monday that home sales decreased by about 5% from July 2020 to July 2021 and prices rose about 24% in that same time frame. The pace of sales was still 7% ahead of July 2019, said Aaron Bolster, president of the realtors association.

The dip in sales in Maine reflected a nationwide trend. Across the country, sales of single-family existing homes fell by about a percentage point from July 2020 to July 2021.

Bolster said demand for homes in Maine is still out-pacing available inventory in many markets in the state. The price of homes went up in every county in the state over the course of the quarter. The highest jump was in Knox County, where prices rose by 50%.