- Associated Press - Wednesday, April 25, 2018

PROVIDENCE, R.I. (AP) - Rhode Island has been ranked one of the country’s least affordable housing markets in March.

The Rhode Island Association of Realtors released its first-quarter market report Wednesday, saying the state’s median house price rose by 10 percent. The Providence Journal reports Rhode Island - alongside Hawaii, California, Oregon, the District of Columbia and Montana - were identified as the least affordable places to live in the country.

The association says strong gains in the housing markets are negatively impacting affordability - particularly among first-time home buyers.

The realtors’ association also reported a 2 percent drop in the number of single-family house sales in this quarter. There were 1,938 houses sold in Rhode Island during the first three months of 2018, down from 1,982 in the same period last year.


Information from: The Providence Journal, http://www.providencejournal.com

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