In York County, high-end homes fuel market
Low interest rates, falling fuel prices and declining unemployment rates are boosting consumer spending and enabling people to buy or build homes particularly in coastal York County. While some customers are locals, the majority are from out-of-town or Boston-area professionals who are in the top 5% of wage earners with disposable income, and typically are buying or building vacation or second homes. For 2015, real estate agent Maureen Adams Weaver reported sales are forecast to increase in the over $900,000 market and under $400,000 listings. Sales in the middle market are predicted to be slower, perhaps due to the tight inventory of houses and consumers’ desire for energy-efficient homes. She also predicts much of the future construction in York County will move inland as the FEMA flood zones begin to limit waterfront construction. An insert in the article mentions that lower fuel prices are not dropping the cost of building materials. [photo]
House construction, Real estate business, Vacation homes, Second homes
Robinson, Fiona, "In York County, high-end homes fuel market" (2015). Maine News Index – MaineBiz. 6263.