Maine 2008 year in review by MREIS

The Maine association of Realtors released their 2008 year in review statistics today.  On average transaction volume was down 20% and pricing was down 7% compared to a year prior for the state as a whole.  This is similar to figures seen for the greater Portland Maine real estate market as well as the lower mid coastal Maine housing markets.  Compared to the nation as a whole Maine transaction volume is off a bit more than avereage,  but the pricing has not fallen as much.  The first time homebuyer market remains strong and the 2nd home market has sufferred the most.