Single-family home sales increase in September

Sales of single-family homes in Maine increased 8.48 percent in September, while the median sale price rose 6.92 percent from a year ago, to $170,000, according to the Maine Real Estate Information System Inc.

The National Association of Realtors reported that U.S. sales increased 10.8 percent, while the median sale price rose 11.4 percent, to $184,300.

In the Northeast, sales rose 7.3 percent and the median sales price rose 4.1 percent to $238,700.

Tina Lucas, president of the Maine Association of Realtors, said activity in the state has increased and the market has become more stable.

Meanwhile, buyers are acting as they realize that an increase in activity may boost prices, Lucas said.

Statewide, 1,049 units were sold in September, up from 967 units in September 2011, according to the Maine Real Estate Information System Inc.

Stocks take tumble on news of tech sector earnings

NEW YORK – U.S. stocks fell sharply Friday, with the major indexes suffering their worst single-day drop since June, after disappointing earnings from heavy hitters, particularly in the tech sector.

The Nasdaq composite declined 67.25 points, or 2.2 percent, to 3,005.62, with Friday’s slide pushing the index into negative turf for a second consecutive week, the most recent one down 1.3 percent.

Weighing on the Nasdaq, shares of Apple Inc. dropped 3.6 percent.

Retaining a weekly rise of 0.3 percent, the S&P 500 index dropped 24.15 points, or 1.7 percent, to 1,433.19.

— From staff and news services