A decade after boom, Rhode Island housing market struggles

PROVIDENCE, R.I. (AP) — A decade after the housing boom, Rhode Island’s housing market still is struggling to recover.

While the number of home sales has bounced back, the median price of a single-family home in 2015 was 20 percent below the 2006 level, and more than 1,000 homes were sold under foreclosure or short sale. That’s according to data from the Rhode Island Association of Realtors.

An analysis by The Associated Press finds the housing recovery in the Providence metro area was among the weakest in the nation among large metro areas. The Providence metro area encompasses most of Rhode Island and several Massachusetts communities, including Fall River and Attleboro.

In Rhode Island, the median price of a home in 2015 was $225,000, still significantly lower than in 2006, when it was $282,500.

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