home sales – Page 7 – The Portland Press Herald

Mortgage rates jump on strong employment and inflation data

by Kathy Orton Washington Post August 11, 2022August 11, 2022

The inflation data may cause the Federal Reserve to moderate its rate hikes.

by ALEX VEIGA AP Business Writer July 20, 2022July 20, 2022

After climbing to a 6.49 million annual rate in January, sales have fallen to the slowest pace since June 2020, near the start of the pandemic.

by ALEX VEIGA AP Business Writer June 21, 2022June 21, 2022

The average rate on a 30-year home loan climbed to 5.78% last week, the highest its been since November of 2008 during the housing crisis.

The limited selection of homes on the market last month sold for 25% more than in April 2021.

The real estate market figures for March show a continuation of the pattern in sales and prices caused by a tight supply of homes on the market.

Sales statewide fell to 878 units last month from 1,062 in February 2021, a decrease of more than 17%.

by ALEX VEIGA AP Business Writer March 18, 2022March 18, 2022

Sales declined 2.4% from February 2021 as the median home price jumped 15% from last year at this time to $357,300.

A tightening supply of homes on the market is pushing prices up even as the number of transactions falls.

by MATT OTT Associated Press December 16, 2021December 16, 2021

The Northeast had the biggest jump, rising 27.5 percent.

Continued low inventory in Maine’s housing market led to a nearly 11% decline in single-family home sales across the state.