Maine Newsletter Volume 2.5 released
Posted on June 22, 2007
As inventory levels continue to escalate throughout the spring season an alarming reduction in transactions levels was seen for the month of May. Total sold transactions for the 4 counties followed in May 2007 was 672 versus 816 in May 2006, an 18% reduction. The Days on Market for all 4 counties jumped significantly, but average sold prices rose in 3 out of the 4 counties. My thoughts: Higher interest rates + market volatility = Uneasy feeling for the short and mid-term market outlook.
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