It’s a hot housing market here in Maine, and a recent study shows the Bangor and Portland-South Portland metro areas are among the top 20 emerging housing markets in the nation.
An analysis by the Wall Street Journal and Realtor.com reviewed 300 metropolitan areas throughout the country, ranking Bangor at number nine and the Portland-South Portland area at number six.
The study took into consideration a range of data, including housing prices, demand and supply scores, and real estate taxes.
Experts say the pandemic played a big role in attracting out-of-staters to Maine, with remote work introducing more flexibility for those looking to relocate and the state’s relatively low virus numbers making it an attractive option.
According to the Bangor Daily News, many economic indicators in Maine’s top markets looked better than others in the nation, with an unemployment rate below 4% compared to others outside the top 20, which have seen a 5.5% unemployment rate.