Welcome! Login | Register
 

Fit For Life: Bring Your “A” Game…—Why reward for doing something wrong?

NEW: Tom Brady’s Appeal Hearing Will be Held June 23—Tom Brady's Appeal Hearing Will be Held June…

Leonard Moorehead, The Urban Gardener: Celebrate Roses—My love is like a red, red, rose.…

Huestis: New Horizons Spacecraft to Encounter Pluto—Basic astronomical knowledge seems to be lacking among…

Side of the Rhode: Who’s Hot and Who’s Not - May 29, 2015—Every Friday, GoLocalProv's Russ Moore breaks down who…

Saul Kaplan: Stop Treating Business Model Innovation As Change Management—There’s plenty of time for change management once…

Gencarella: Let’s Leave It A Local Issue—The question “How did it get this way?”…

Finneran: Give Us This Day Our Daily Bread—In the pews are the people, and in…

Matt Light Announces Charity Event Related to Deflategate—Matt Light recently announced a fundraising campaign

ACLU of RI Files Lawsuit That Challenges 106-Year-Old Statute—The ACLU of Rhode Island filed a federal…

 
 

Third Quarter Home Sales Figures Show Ups and Downs

Tuesday, November 02, 2010

 

Third quarter figures of Rhode Island single family home sales have been released, showing sales have rose monthly since July, but fell 30% compared to a year earlier. Positive indicators of the market, however, show distressed sales–those involving foreclosure or short sale–dropped 46%. According to the Rhode Island Association of Realtors (RIAR), of the 1,653 single family home sales in the third quarter, 374 sold through foreclosure or short sale, compared to 693 distressed sales in the third quarter of 2009. The number of sales fell most significantly in communities including Warwick and Providence, which had some of the state’s highest rates of foreclosures last year sparking heightened sales activity. The median price of single family homes rose 5% to $219,500, likely resulting from fewer foreclosures.

Slow Recovery

Fueled by lingering economic woes, news of fraudulent investigations in the foreclosure market, and potential changes resulting from the today’s election, consumer uncertainty appears to have slowed the market recovery that began in Rhode Island last year. Single family home sales and median price had been rising through the second quarter of 2010, but third quarter sales data showed a sharp trend reversal in the number of properties sold. Median price, however, has continued to show healthy gains, because the rate of lower priced foreclosures and short sales declined.
 

 

Related Articles

 

Enjoy this post? Share it with others.

 
 
:)