R.I. single-family home sales increase 23 percent in May

PROVIDENCE – Single-family home sales in Rhode Island climbed nearly 23 percent in May, representing the 13th consecutive month of positive gains, The Warren Group said July 12.

Timothy Warren Jr., CEO of The Warren Group, said low interest rates and an improving economy are fueling sales.

The Warren Group said 959 single-family homes were sold in May, compared with 781 in May 2015.

Year to date, sales rose 33.7 percent, with 3,641 homes sold, compared with 2,723 during the prior-year period.

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The median sale price of a single-family home increased 4.4 percent to $234,900 in May, compared with $225,000 in May 2015. Year to date, prices have risen 7.1 percent to $225,000. •

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