GoLocal Prov: RI Housing Prices Hit Record Highs—43% Increase Over Past Decade
Wednesday, January 22, 2020
GoLocalProv Business Team
The number of Rhode Islanders who can afford to buy a single-family home has decreased over the past decade.
Meanwhile, the median sales price of a single-family home just hit $285,000 — a 43 percent increase from ten years earlier. The increase far outpaces wage increases that have been on average just above 2% annually.
At $285,000, the median sales price of single-family homes represented a 5.6 percent increase from the prior year and highest on record to date, according to the Rhode Island Association of Realtors.
Courtesy of GoLocal Prov