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November 24, 2010

Home sales continue decline

By The Mainebiz News Staff

Home sales in Maine fell for the fourth consecutive month in October, though the median sales price inched up by almost 1%.

A total of 885 single-family homes were sold in October, a 29% drop from 1,247 homes sold in October 2009, according to the Maine Public Broadcasting Network. The median sales price increased 0.9% to $166,500. Home sales have been falling since July, following strong increases in the spring due to federal homebuyer tax credits.

Nationally, existing home sales dropped 25.6% in October.

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