Real Estate Booming in Maine, According to Industry Experts

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PORTLAND, ME (WMTW)- The real estate market in Maine was the topic of conversation Thursday at a conference in Portland.

Signs advertising for condominium homes for sale, Photo Date: March 21, 2010 / A McLin / Flickr / CC BY 2.0 / MGN

The event was attended by hundreds in the real estate industry..including those in residential, industrial, vacation and hospitality.

Experts from the Maine Real Estate and Development Association were also on hand to deliver a report on the health of the real estate sector in Maine, which they believe is in great shape.

"Since the recession of 2007 this is the best market we've had. All the indicators are higher and it's very exciting to be in the real estate industry. Real Estate is the state's second biggest GDP, second only to health care," says Paul Peck, President of MEREDA.

Speakers also talked about trends in real estate including the adoption of technologies by construction firms to address labor shortage.