As the news of the nation continues to focus on declining home prices, there is actually some good news in a few states. The Huffington Post put out an article today entitled "10 States Where Home Prices Have Actually Risen Over The Last Year." The great state of Maine made it to #6 on the list.
While Maine home prices have not rebounded to the point they were at five years ago, there has been a statewide increase of 1.17% over the last year and a gain of 3.62% in the last quarter. This reaffirms what Maine Realtors have been noticing over the last year...a stabilizing trend in home prices.
While inventory is still high in comparison to the number of qualified buyers, this trend too may change as buyers who have been hesitant to buy now, concerned about a future dip in prices, may jump into the market while the prices are still low and interest rates are more favorable than they have been in years.
If you have been waiting for the bottom of the housing market, now is the time to buy. Give me a call and I would be happy to help you find your Maine dream home.
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