Despite Upturns Elsewhere, Multi-Family Home Sales Dip
Thursday, May 13, 2010
However, figures from the first quarter of 2010 show the median price of multi-family homes rose to 34%. The median price for 2010 is $107,150 compared to $80,000 in the first quarter of 2009.
Current data from RILiving.com indicates that there is a seven-month supply of multi-family properties available for sale.
Comments:
Cristiana Quinn
10:27am on Friday, May 14, 2010
In some cities/towns, the tax laws simply don't support investors buying a multi-family. In Providence, if you don't live in the property, the taxes are double and you can't possibly make the numbers work to pay the mortgage and taxes. That limits the pool of potential buyers for these properties.