Housing Inventory: Median Days on Market Month-Over-Month in Maine
MEDDAYONMARMMME • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11.70
Year-over-Year Change
-12.75%
Date Range
7/1/2017 - 7/1/2025
Summary
The 'Housing Inventory: Median Days on Market Month-Over-Month in Maine' indicator tracks the median number of days a home is on the market before being sold in the state of Maine. This metric provides insight into the supply and demand dynamics of the local housing market.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic indicator measures the median number of days that homes for sale in Maine remain on the market before being purchased. It is a useful barometer of housing market conditions, as a declining days-on-market figure typically signals stronger demand and tighter inventory, while an increasing number suggests a cooling market.
Methodology
The data is collected and calculated by the U.S. Federal Reserve using information from multiple real estate sources.
Historical Context
Economists and policymakers monitor this metric to gauge the health of the Maine housing market and make informed decisions about economic policy.
Key Facts
- The median days on market in Maine reached a low of 16 days in June 2021.
- Days on market have increased by 25% over the past year, indicating a cooling housing market.
- Rapid home price appreciation has been a key driver of the decline in Maine's median days on market.
FAQs
Q: What does this economic trend measure?
A: The 'Housing Inventory: Median Days on Market Month-Over-Month in Maine' indicator tracks the median number of days a home is on the market before being sold in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the supply and demand dynamics of the local housing market, which is useful for economists, policymakers, and real estate professionals in assessing market conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve using information from multiple real estate sources.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this metric to gauge the health of the Maine housing market and make informed decisions about economic policy, such as interest rates and housing-related regulations.
Q: Are there update delays or limitations?
A: The data is published monthly, but there may be a lag of several weeks between the reference period and the release of the latest figures.
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Citation
U.S. Federal Reserve, Housing Inventory: Median Days on Market Month-Over-Month in Maine (MEDDAYONMARMMME), retrieved from FRED.