Where do Maine home buyers come from? Prior to 2020, the answer was fairly easy – 75% came from Maine. This had been consistent for about ten years. The top areas of relocation to the state were MA, NH, NY and FL. Probably not very surprising.
In 2020 the situation began to change as the number of homes purchased by Maine residents declined to 70.3%. In 2021, as the map below highlights, the drop was even more significant, to 65.8%, with MA representing 9.4%, NH 4.0% and NY, FL and CA all 2% each.
This trend is continuing through the first quarter of 2022, with 66.6% of single-family homes purchased by Maine residents.
Not surprisingly, more people are moving to Maine since the start of the pandemic than ever before. From 2009 to 2019 approximately 25% of all home buyers annually were from away. In 2021 that percentage jumped significantly to 35% and shows no sign of decreasing in the first quarter of 2022.
This data is compiled by the Maine Multiple Listing Service (MLS), which records the zip code of each buyer at closing. It does not include the situation that someone could move to Maine, not find a home, rents, and subsequently makes a purchase
Until next time, be safe and … Imagine More!