Housing trends continue in positive move
Thursday, July 22, 2010
According to the RI Association of Realtors, the number of sales and median price of single family homes increased in June according to statistics released today. Eight hundred and ninety-seven (897) single family homes were sold last month, far surpassing the 667 sales of the previous month. Sales were up 11 percent year-over-year from the June 2009, when just 805 sold. Median price rose five percent from a year ago to $220,000, and 10 percent from May’s median price of $199,900. Other than the month of February, sales have continued to increase since November of 2009.
"We typically see an increase in sales at the end of the spring buying season but this year we saw 35 percent more sales from May to June compared to a 21 percent jump last year. I think that’s ample evidence that the tax credit had an impact," said Karl Martone, President of the Rhode Island Association of Realtors (RIAR). "There have been some good things happening in regard to lending which should ease the difficulty people are having getting loans, and interest rates are still unbelievably low. That also helped to boost sales and should keep the momentum going," he added.
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