Home sales started to pick up in Maine last month - but tight inventory is still affecting the market.
According to the Maine Association of Realtors, home sales in July were up about nine percent from June. But overall sales compared to a year ago are down by more than 20%, as buyers deal with rising interest rates and limited inventory.
Despite that, home prices continued to rise, with a median sales price of $380,000 in July. That's an increase of 7%, compared to July of 2022.
