Cumberland and York counties are primary destinations for a growing number of older, higher-income households relocating to Maine, influencing demand for smaller homes, condos and housing close to services.
The mortgage market is becoming increasingly favorable for buyers, with rates easing after a long stretch of volatility. Additional rate cuts are anticipated.
Single-family homes are still hot property in Portland, but the condo market is showing signs of a market correction, according to a Q2 market analysis.
Some buyers and sellers are pausing real estate activity. Others who recall the 2020 economic downturn are looking to make their move now and refinance later if needed.