When my parents purchased their first home in 1971, interest rates stood at 7.33%. If they had waited for rates to drop before purchasing a home, they would have waited until 1993—a span of 22 years during which property prices more than quadrupled.
In Maine, home prices have risen consistently for the past five years, with a remarkable 78.5% increase from 2019 to 2024. Last year, while other markets softened, Maine’s median home price increased by 8%.
The time to buy is… now.
The Best Time to Buy a Home? Now.
- Linda MacDonald
- 02/20/25
