Town-by-Town Single-Family Home Sales, August

Checking in on single-family home sales across Rhode Island, as I did for July and 1Q12, reveals a mixed picture. Results for the state are mildly improving, but the "downward spiral index" worsened for 22 of the 38 listed cities and towns.

The downward spiral index is the sum of the three percentages given in Table 1.  The idea is that an improving market will see an increase in sales,  a decrease in inventory, and an increase in median sales price.  If inventory is dropping, that indicates that houses are selling faster than new families can put them on the market, and if the median sales price is climbing, that suggests that the demand for homes in the area is increasing.

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