RI Housing Market Sees 9,782 Homes Sold, Highest Since 2004
Wednesday, January 27, 2016
Year-over-year sales activity went up 10 percent and the median price increased five percent from 2014, to $225,000.
"We're seeing cautious growth in the market again. It's not the same type of frenzy that caused Rhode Island to lead the country in double digit appreciation a decade ago. Instead, we're seeing more moderate, steady gains. Last year was a 'win-win' for just about everyone. Sellers benefited from more activity and increased prices. Buyers on the other hand, were able to tap into continued low interest rates, and unlike most other areas of the country, a decent supply of homes to choose from," said Arthur Yatsko, president of the Rhode Island Association of Realtors.
There was a six percent increase in activity among condominium sales compared to 2014 and a three percent increase in median price.
The multi-family home market experience the largest gains last year with a 14 percent gain in sales activity and 15 percent appreciation in median price from the previous year.
The sales in 2015 are being used to project early action in 2016.
"Overall, sales may have been buoyed slightly in the fourth quarter by the anticipated increase in interest rates but by all indications, we should continue to see momentum in the market this year,” commented Yatsko.
RI Association of Realtors
The Rhode Island Association of Realtors is one of the largest trade organization in Rhode Island with about 4,400 members in 750 offices.
The Association was founded in 1948.
- NEW: RI Housing Receives $180,000 for Family Self Sufficiency Aid
- Housing Groups: Proposed Tax Changes Could Hurt Prov. Development
- Providence Mayor, Council Housing Fight Shifts to State House
- City Council Looks to Override Taveras Veto on Affordable Housing
- NEW: Council Overrides Affordable Housing Veto by Taveras
- RI Housing Market Showed Signs of Solid Economic Recovery in 2013
- PODCAST: Housing Groups: Tax Changes Could Hurt Prov. Development
- RI Housing Market Reaches Long-Awaited Equilibrium
- HUD Report Shows Housing Discrimination Against Minorities
- NEW: Rhode Island Housing Market Takes Off—RI Assoc. of Realtors
- RI State Report: Rhode Island Gets Big Money For Housing + Medicare
- NEW: RI Realtors Report Spike in Housing Prices in April, Drop in Sales
- RI Coalition for the Homeless Praises Affordable Housing Funding in Budget
- The Scoop: Fung Blasts Raimondo on RI Housing, Taylor Calls McKee on Flip-Flop, and More
- Elorza’s $5 Million Housing Redevelopment Revolving Loan Pool Questioned by Advocates
- Carol Anne Costa: History, Housing, and Humans
- NEW: RI Housing Executive Director Godfrey to Retire
- RE/MAX Releases 2015 Housing Forecast
- Harrop Found Guilty of Housing Violations
- NEW: 2014 HousingWorks RI Fact Book Shows Housing Costs, Foreclosures Up
- Will Chafee Push RI Into Housing Undocumented Immigrant Children?
- NEW: RI Housing Launches First Time Homeowner Tax Credit
- It’s All About Education: The Connection Between Housing and Achievement
- Smith Hill CDC and Sojourner House Open Housing for Domestic Violence Victims
- City Council Approves Amendment to Limit Student Housing in Residential Areas