RI Home Sales Decrease Sharply in August

Year-over-year home sales decreased more than ten percent in Rhode Island, and 8.8 percent across New England according to The RE/MAX of New England August Monthly Housing Report.

Pending sales continued to trend upward at 9.6% over last month and were up 30.0% over August 2013. 

Across the region, homes are staying on the market an average of 2 fewer days year-over-year, while median price stayed flat, up 0.2% on average.

• Rhode Island home transactions fell -12.8%, while median price decreased -2.6%. Pending sales were up slightly at 0.7% year-over-year.
• In Connecticut, the number of total transactions is down -9.6% year-over-year while median price rose slightly at 1.0%.  Pending sales were up 29.0% year-over-year.
• Massachusetts showed a decrease of -8.7%  in total transactions year-over-year. The median price increased 1.5%. Pending sales were up 49.2% over August of 2013 – once again, the highest in the region.
• In New Hampshire, home transactions deceased -3.5% year-over-year, and median price rose 3.1%. Pending sales were up 0.1% year-over-year.
• Vermont showed a decrease in total transactions, down 13.5% - the highest in the region, while median price decreased -3.2% year-over-year. Pending sales were up 6.1% year-over-year.

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