January home sales up 11%
After a six-month slide, home sales in Maine are on the rise again, hinting at a strong spring.
A total of 563 existing single-family homes were sold in January, a 10.74% increase over January 2010 and the first increase since June, according to the Maine Real Estate Information System Inc. The median sales price held steady at $160,000. Mike LePage, broker and owner of RE/MAX Heritage in Yarmouth, said in a press release that the increase "bodes well for an improved spring market."
In the Northeast, home sales dropped 1.2%, while the median sales price declined 4% to $236,500. Nationally, home sales rose 4.9%, while the sales price dropped 2.7% to $159,400. Meanwhile, sales of new homes in the United States dropped 12.6% in January from the previous month to a seasonally adjusted annual rate of 284,000 homes a year, according to The Associated Press. That rate is less than half what economists consider healthy.
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