The Providence Journal used a headline of "Strong May for RI Housing Sales."
I think the actual numbers are mixed and flat at best. Still, when compared with national figure which dropped, flat isn't all that bad.
The number of single family home purchase rose from 666 to 667. I'm not even sure if that really counts as an increase...
The average amount of time to sell a single family dropped from 101 days to 86 days and the average price ticked up from $190,000 to $199,900. Not too bad, getting the house sold quicker and grabbing 5% more in price. I do wonder if having the seller pay towards closing costs accounted for the increase in sales price...
The number of multi family purchase went from 174 units to 143 units. The average price increased though from $82,000 to $107,900. An increase in equity (on the individual properties) is always nice. If the math is calculated there was actually a loss of about 1.5 million in money spent in the new figures.
I'll agree that condominium sales were strong. A bit of a surprise too given that the lending guidelines had gotten real tight on this property type. Considering this, I wouldn't simply say strong but very strong.
Hopefully more people can find good steady employment and we can continue towards a healthy real estate market.
Jason
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