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Trend Update: Home Sales Continue to Increase in September Good news! Trends show that home sales continued to increase in Rhode Island. According to a press release by RILiving, single-family home sales are up by 8 percent from a year ago. "The market is gaining ground little by little. Excess housing inventory is receding every month and that's the best thing that can happen. Now that we're seeing some gains in employment, consumer confidence seems to be building. I think after the elections are over and that uncertainty is behind us, we'll see even stronger gains," said Jamie Moore, RIAR President. Here are a few more winning statistics: 24- The rising percentage of how many homes under contract but not yet closed. 18- The falling percentage of supply of homes for sale (which created a balance of supply and demand) 7- The median percentage ($185,000) of single family home sales. Although this is low, the Rhode Island Association of Realtors (RIAR) states that: "prices have been stabilizing and the percentage of sales sold through foreclosure or short sale have been mitigating."

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Jim DeRentis
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