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December 2014

Monday, December 1st, 2014

We can finally report that real estate markets in Maine, New England and the U.S. continue to improve reliably, albeit at a moderate pace. Recent real estate industry seminars, authoritative realtor and vendor websites, and government statistics at most levels report more confidence in growth indicators. Transaction activity picked up dramatically in 2013 and 2014. Sales and leases are expected to sustain that large surge. Sale prices and lease rates have also been nudging upward as occupancy rates continue to rise and days on the market fall. The Greater Portland market in particular has experienced dramatic new development activity after a long hiatus and pent up demand. The Portland waterfront is the upbeat focal point of much new residential, hospitality and other commercial real estate projects.

Stock markets have recovered most of their losses incurred during the last recession, but pundits doubt that the growth rates enjoyed to 2014 will continue. Lender liquidity remains high along with strict credit underwriting and low interest rates. Some of the looming, key economic questions now are not if, but when and how much, mortgage rates and new jobs will increase.

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