Local Housing Market Gaining Momentum
According to RIAR, Rhode Island Association of Realtors, sales and the median price of single family homes rose. Single family home sales increased an average of 24% and the sales prices rose to 10% higher from October of 2011.
The condo market fared well too. Sales rose 37% with the median price increasing 21%. Lets not forget the multi-family sector. This area is gaining momentum as well increasing 15% from the year prior, and the median price increasing to 20%.
As we go into the new year, interest rates are still at historical low rates, prices are reasonable and the housing market seems to be on the right track to recovery.
For more information on the local market, please visit my websitehttp://www.ericasellsri.com
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