Sales of single-family homes in Rhode Island continue rising

PROVIDENCE, R.I. (AP) — Sales of single-family homes in Rhode Island continue to rise.

The Rhode Island Association of Realtors says sales were up 19 percent in November compared to November 2015.

November’s median sales price also rose to $245,000 despite more foreclosures and short sales which typically lower the median price.

The association said last month that sales were up nearly 5 percent in October compared to October 2015, and the median sales price was $235,000.

Condominium and multifamily property sales are also up.

The supply of single-family homes for sale decreased in November, which may begin to slow sales later.

The association says Rhode Island’s housing market is still seeing remarkable gains, though the market may settle a bit in 2017.