June 22, 2011
May home sales slip 28%
By The Mainebiz News Staff
Maine home sales fell nearly 30% in May, dropping for the fourth month in a row.
A total of 784 existing single-family homes were sold in Maine in May, a 28% drop compared with May 2010, according to the Maine Public Broadcasting Network. The median sales price also slid nearly 2.5% to $165,700. Mike LePage, president of the Maine Association of Realtors, said last year's sales were buoyed by federal homebuyer tax credits. Home sales fell 24% in April, 21% in March and 2.4% in February.
Nationally, May home sales fell 15.3% compared with the previous year, and the median sales price fell 3.5% to $166,500, according to the Washington Post.
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