New Housing Numbers
Friday, May 20, 2011
According to the New England RE/MAX Housing Report, home sales have increased across the region by 10.9% since last month. Each state saw an increase in both home sales and median price except for Connecticut, where the median price decreased by 0.9%.
Rhode Island saw 1.8% more homes sold than last month, which was the smallest increase among all the New England states. The RI median home price went up by 2%, from $185,000 to $188,750. However, Rhode Island homes sold the fastest in New England, with an average of 105 days on the market.
While there are still less homes being sold than there were at this time in 2010, Executive Vice President of RE/MAX of New England Jay Hummer sees the increased inventory and higher prices as signs of a reviving market.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST“Prices are still very affordable,” said Hummer. “Whether you’re a first time home buyer or investor, the spring housing market is filled with opportunity.”
Related Articles
- Signs of Life in Commercial Real Estate Market
- RI Real Estate Report
- Housing trends continue in positive move
- Making the Case for Real Estate
- Real Estate News: Good Word on Housing
- Residential Housing Report a Mixed Bag in Latest Report
- As Tax Credit Expires, Housing Prices Fall
- NEW: Lila Delman Real Estate Hosts Economic Summit
- NEW: RI Real Estate Bucks National Trend - Up
