- Associated Press - Tuesday, August 23, 2016

PROVIDENCE, R.I. (AP) - Sales of single-family homes in Rhode Island rose 7.5 percent in July from a year ago, while the median price rose almost 10 percent to $262,500.

The Rhode Island Association of Realtors said this week that sales activity slowed in the condominium market, which fell 6.6 percent from a year earlier, and in multifamily homes, which fell almost 10 percent.

The median price of condos also declined, by more than 5 percent, but the median sales price of multifamily properties grew more than 10 percent to $190,000.

The group says there are signs of a more tempered market in single-family homes heading into the fall.

There was a more than 13 percent decrease in the number of homes for sale.



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