Realtor Data Shows Home Sales Continued to Climb in September


Posted on Oct 28, 2009

Warwick, RI, October 27, 2009…According to data released by the Rhode Island Association of Realtors today, Rhode Island existing single family home sales rose 27.9 percent in September and the number of days a single family home stayed on the market dropped to 87 from a high of 109 earlier this year.  Sales activity appears to be spurred by the $8000 tax credit from the federal government available to eligible buyers.  The number of single family homes available for sale has dropped steadily since June, falling more than 20 percent from September 2008 to September 2009.  There is currently a 6.8 month supply of single family homes for sale.  A six- month supply of inventory indicates parity between buyers and sellers and thus, a balanced market.  Inventory has decreased from a 14-month supply in January.

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