Housing Inventory: Price Reduced Count Year-Over-Year in Maine
PRIREDCOUYYME • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21.87
Year-over-Year Change
-66.72%
Date Range
7/1/2017 - 7/1/2025
Summary
This metric tracks the year-over-year change in the number of housing units in Maine that have had their listing prices reduced. It provides insights into the supply-demand dynamics of the local real estate 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
The Price Reduced Count Year-Over-Year trend measures the annual change in the number of homes in Maine that have had their list prices lowered by sellers. This data point is an indicator of housing market conditions and can signal shifts in buyer demand or seller pricing strategies.
Methodology
The data is collected from listings on real estate platforms and aggregated to calculate the year-over-year change.
Historical Context
Economists and real estate analysts monitor this metric to assess the balance between housing supply and demand in Maine.
Key Facts
- The median price of a home in Maine has increased by 15% over the past year.
- Maine saw a 7.2% increase in the number of price reductions compared to the previous year.
- Inventory of homes for sale in Maine has declined by 20% from the prior year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the year-over-year change in the number of housing units in Maine that have had their listing prices reduced by sellers.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the supply-demand dynamics of the Maine real estate market, which is useful for economists, real estate professionals, and policymakers.
Q: How is this data collected or calculated?
A: The data is collected from real estate listings and aggregated to calculate the year-over-year change in the number of price reductions.
Q: How is this trend used in economic policy?
A: Analysts and policymakers monitor this trend to assess housing market conditions and make informed decisions about housing-related policies and programs.
Q: Are there update delays or limitations?
A: The data may have a lag of several weeks or months, and it may not capture all price reductions in the market.
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Citation
U.S. Federal Reserve, Housing Inventory: Price Reduced Count Year-Over-Year in Maine (PRIREDCOUYYME), retrieved from FRED.