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Business and Economy

Home Sales Fall In Maine, Though Prices Keep Climbing

Single-family home sales in Maine cooled off during the early part of the summer, though prices rose somewhat during the same time period.

The Maine Association of Realtors says sales fell by a little more than 7 percent in June compared to June 2018. Home values climbed a little more than 5 percent during that same timeframe to a median sales price of $239,085.

The decline in home sales was more than a corresponding nationwide trend. Sales of existing single-family homes fell by a little less than 2 percent, while the national median sales price went up by 4.5 percent.

Maine Association of Realtors president Peter Harrington says Maine buyers are "on the sidelines waiting for affordable homes to come onto the market."