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Maine has a dire shortage of affordable housing. Advocates say that the state needs to add 1,000 affordable units a year to meet demand, but until recently, only 250 units were being added. To address the shortage, a new bipartisan bill was unveiled in Brunswick today.
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Home sales technically dipped by 7.2% in January compared to the same time last year, but the Maine Association of Realtors said last month's activity still outpaced pre-pandemic levels.
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The median home price in Maine reached $299,000 last year, an almost 17% increase over 2020. But real estate sales across the state were up 2.4%, according to a recent analysis of Maine listings.
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Maine has advanced a housing policy agenda that would be among the most aggressive in the nation in addressing soaring costs, but it faces a difficult path in a state where local control runs deep.
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Suburban home prices are escalating as well, but Westbrook remains the biggest bargain in the Portland area. It has the densest population of those suburbs and is the only one with a major urban center.
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Developers of a new building in Portland's Bayside neighborhood say the project will help address the city's need for more affordable housing and child care.
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Home sales fell a bit in Maine last month, but housing prices in the state continued their rapid surge.
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The Portland Press Herald reports Maine home sales increased by more than a third in April compared to a year ago. The paper reports the median sales price also increased by more than a sixth.
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The pandemic made 2020 a record year for residential real estate, as people flocked to Maine seeking a different kind of lifestyle. Almost every county in…
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Eviction court cases can resume in Maine on August 3. A recent U.S. Census survey found 9% of Maine residents (29,000 people) could not pay rent in June,…