Home sales drop in RI

PROVIDENCE, R.I. – Rhode Island home sales have fallen sharply. The Rhode Island Association of Realtors says sales dropped 35 percent between this October and a year earlier.

Jamie Moore, president-elect of the association, says people are no longer in a hurry to buy now that a federal tax credit program has ended.

"People are looking for good buys," Moore says. "The properties that are in the lower price segments are moving well...I'm out appraising properties every day and there are people getting good properties at very good prices."

On the plus side however, is the median price which increased 20-thousand dollars from October to October.

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