Home sales take a jump in May

The volume of home sold in May jumped 32.02 percent over May 2011, while prices rose by 7.42 percent, the Maine Real Estate Information System said Thursday.
According to a release, there were 1,035 homes sold in Maine, with a median sales price of $178,000.
Nationwide, according to the National Association of Realtors, the volume of homes sold increased 10.4 percent and prices were up 7.7 percent, with a median of $182,900.
“Buyers in our market area are finding interest rates irresistible; they can purchase more home with lower rates. Their optimism is higher than in recent past,”  said Sheryl Gregory of Homestead Realty in Winthrop, in the release.
The number of sales increased in every county in Maine except for Franklin, where one more home was sold in May 2011 over May 2012. The biggest increase in volume came in Washington County, with 16 sales in May 2011 and 42 in May 2012, a 162.50 percent increase.