Market Statistics Mixed Results

Reports are still mixed in the Real Estate market, but the National Association of Realtors is reporting that the statistics are starting to show some encouraging signs. In a recent article sent to Realtors NAR stated, "Existing-home sales [nationwide] including single-family, townhomes, condominiums and co-ops jumped 9.4 percent to a seasonally adjusted annual rate of 5.57 million units in September from a level of 5.09 million in August, and are 9.2 percent higher than the 5.10 million-unit pace in September 2008. Sales activity is at the highest level in over two years, since it hit 5.73 million in July 2007." Here in the Northeast, "existing-home sales increased 4.4 percent to an annual level of 950,000 in September, and are 11.8 percent higher than September 2008. The median price in the Northeast was $234,700, down 7.0 percent from a year ago." We have done some local analysis for Rhode Island and have also seen the rise in homes sold. Our results took a look at Single Family Homes solely, which attributed for the increase. In September RI sales were 27.6% over September of 2008, but the median price was down 8.2% to $201,050. Our Q3/09 Market Report, which reports quarterly data, is posted on our web page.