Feb 5, 2025, 07:46 by Amanda Ouellette

New Annual Report Uses Data And Data Analysis From Four Key Sectors To Review Maine's Housing Economy

AUGUSTA — MaineHousing is pleased to announce the inaugural release of Maine's Housing Outlook Report.

This 18-page report is the first edition of what is intended to be an annual summary of the state of housing and housing-related issues in Maine.

The report combines data from national and state agencies and organizations to examine the health of housing and employment markets, housing affordability trends, and homelessness trends.

The report breaks the housing landscape into four topic areas:

•  Housing Production
•  Homeownership
•  Housing Affordability
•  Homelessness

The outlook report examines the state of housing in Maine in the context of the current state of the U.S. economy, as measured by inflation and unemployment trends, and the Maine Economic Forecast, produced by Maine’s Consensus Economic Forecasting Commission (CEFC).

From there, the examination primarily proceeds by reviewing historical data up to and including the previous year.

It is hoped this report, to be released each January, will help to inform expectations for the coming year.

“The purpose of this report is to provide data and perspective to inform expectations for the coming year, not to make predictions,” said MaineHousing Director of Research and Planning Jonny Kurzfeld, Ph.D. “The Housing Outlook Report is a tool that can help policymakers and others better understand how far we have come and where we are heading in terms of housing production and affordability in Maine.”

Highlights from this year’s report include:

• Mortgage rate trends for Maine
• Foreclosure statistics
• A review of rental housing costs in Maine
• Details on energy and heating costs for Maine households

Details on homelessness in Maine, including shelter stay durations and returns to homelessness

“This report focuses on data and data analysis to compile, analyze and arrange a broad range of information on Maine’s housing economy,” said MaineHousing Director Dan Brennan. “It uses instructive charts and graphics to help us clearly visualize and better understand how a variety of factors impact housing and housing stability in Maine. MaineHousing is happy to share our expertise and create these tools for policymakers and the public at large.”

You can find and download a full copy of the report at: www.mainehousing.org To access the report directly click here.