NEW: Rhode Island Largest Home Sales Increase in New England
Wednesday, June 19, 2013
The RE/MAX of New England May Monthly Housing Report shows that, across the region, house sales have risen, both month-over-month and year-over-year.
The report indicates Rhode Island home sales again had the largest increase in New England, up 31.3% month-over-month and 35.2% year-over-year. RI home median price rose 4.2%.
Compared to the Rest of New England
The May report showed that, on average, the New England median home price increased 3.4% and pending sales are up 61.5% year-over-year. Median home prices rose in every state, except Vermont where prices fell 2.3%.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTConnecticut and New Hampshire also saw double-digit growth both month-over-month and year-over-year, while Vermont and Massachussetts reported smaller increases in home sales at 7.9% and 8.8%.
“Inventory continues to wane as activity in the market increases, Dan Breault, EVP/Regional Director of RE/MAX of New England, said in the Housing Report. "With increased competition, low inventory, and competitive mortgage rates, home sales are anticipated to remain strong throughout the summer.”
New England Summary
- Rhode Island posted the largest year-over-year gains in total home transactions in New England, up 35.2%, while median price rose 4.2%.
- In Connecticut, total transactions is up 17% year-over-year, while the median price stayed steady, up by 0.3%
- Massachusetts transactions were up 8.8% year-over-year. The year-over-year median price increase of 7.7% is the largest increase in New England.
- New Hampshire home transactions increased 12% year-over-year, while the median price lept 6.5%.
- Vermont's total transactions rose 7.9%. Year-over-year median price lowered -2.3%.
For more informaton or to view the full report, click here.
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