June 26, 2013 at 12:00 am
MEREDA is proud to present its first ever report on the current state of the real estate industry in Maine
Over the past year, MEREDA, in conjunction with Professor Charles Colgan and his team at the Muskie Institute, has developed the MEREDA Index, a composite index derived from several data sets of three major components: residential, commercial and construction. Once the data is retrieved from available resources, weighted and compiled, it provides a current indicator specifically for determining the relative health and construction activity of the real estate industry in Maine.
The MEREDA Index was developed to increase the awareness and importance of the real estate industry in our state’s economy and to provide valuable information to our members, the general public and our political representatives in tracking historic trends and predicting future growth. Real estate is cyclical and being ahead of the curve is critical for our members’ organizations and for the overall strength of Maine’s economy. Our goal is that over time the MEREDA Index and associated report will be a trusted resource for predicting future growth trends, lead to policy initiatives that encourage growth in real estate, and highlight the intricate link between the strength of the real estate market and the vitality of Maine’s economy.