National and Maine home sales fall in March

A less than ideal report was released yesterday by the National Association of Realtors reporting a 8.4% nationwide drop in homes sold for the month of March over homes sold in March 2006.  The median home price fell $600 from 217,600 to 217,000, a .3% drop.  In Maine fo the same time period  total home sales fell by 12.7%. The average sold price did increase by 2.51% from $189,000 to $193,750.  For The largest decrease seen in 18 years a couple primary reasons for the decline would include the mortgage market turmoil as of late and poor weather.