AP NEWS

House sales in RI remain stable from last years’ rate

December 21, 2017

PROVIDENCE, R.I. (AP) — Home sales in Rhode Island remained stable in November, with the median house price increasing nearly six percent.

A new report from the Rhode Island Association of Realtors says there were 905 houses sold statewide in November, with an average number of days down from last year. The Providence Journal reports the housing market continues to be plagued by low inventory — with single family homes listings down eight percent.

The number of total transactions in November rose 0.8 percent.

The association says pending sales fell by 19 percent in November.

Association President Joseph Luca says changes from the pending tax reform legislation could have caused uncertainty, but growth has been impressive this year.

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