PROVIDENCE, R.I. (AP) — The median price of a single-family home in Rhode Island climbed nearly 10 percent in January compared to the same time last year, and the number of sales grew almost 2 percent.
The Rhode Island Association of Realtors on Wednesday said it was the busiest January since 2004 for single-family home sales.
Arthur Yatsko, president of the group, says a strong housing market in 2015 appears to be continuing in 2016. He says low interest rates and less onerous lending requirements are helping to bring buyers into the market.
The group estimates the state had a five-month supply of single-family homes for sale in January, giving sellers a slight edge in the market. A six-month supply of homes is considered to be well balanced between buyers and sellers.
