New Housing Numbers

New Housing Numbers

According to the New England RE/MAX Housing Report, home sales have increased across the region by 10.9% since last month. Each state saw an increase in both home sales and median price except for Connecticut, where the median price decreased by 0.9%.

Rhode Island saw 1.8% more homes sold than last month, which was the smallest increase among all the New England states. The RI median home price went up by 2%, from $185,000 to $188,750. However, Rhode Island homes sold the fastest in New England, with an average of 105 days on the market.

While there are still less homes being sold than there were at this time in 2010, Executive Vice President of RE/MAX of New England Jay Hummer sees the increased inventory and higher prices as signs of a reviving market.

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“Prices are still very affordable,” said Hummer. “Whether you’re a first time home buyer or investor, the spring housing market is filled with opportunity.”