Good News!
January 29th, 2010
Good news everyone! According to a new story in The Providence Journal, RI home sales are on the move, and this time in the right direction. This is terrific news for our buyers and sellers.
According to the story, 583 homes were sold in December 2009, compared with 492 in December 2008. Median price also rose by 5%. Another report shows a sales improvement of 30%, from 500 to 650, and a 4% median price increase. This comes on the heals of a November sales increase of 61%.
For sellers, this means that there are more buyers out there, and with larger budgets.
For buyers, this may be the best time to get out and look. Prices may not get any lower.
“I think it’s real,” said Frederick W. Reinhardt III, senior vice president and chief lending officer at Navigant Credit Union. “There is definitely a firming up of the market. A bottom was set, and we have clearly started to go up from there.”