November 24, 2009
Home sales trend continues
By The Mainebiz News Staff
Home sales rose in October for the fifth consecutive month, while the median sales price continued to fall.
Realtors in Maine sold 1,247 homes in October, a 39% jump over October 2008, according to a press release from the Maine Real Estate Information System Inc. The median sales price fell 3.5% from $171,000 in October 2008 to $165,000 last month. The jump in activity was attributed to the $8,000 federal first-time homebuyer tax credit, and Realtors expected the trend to continue with the extension and expansion of the credit to all buyers, according to the release.
Home sales in the Northeast rose 27.7%, and increased 21.4% nationwide.
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