Data shows that more than 1 in 5 single-family homes in Maine are being purchased by investors.
According to the Bangor Daily News, the findings come from CoreLogic, a California-based firm that tracks real estate data.
It’s a trend that picked up nationwide during the pandemic and has continued amid a housing crisis.
According to a state-sponsored report released this month, short-term rentals make up more of the state’s seasonal homes than in previous years.
The same report found that Maine needs to create between 76,000 and 84,000 homes by the year 2030 to keep up with current and future housing demand.