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Median house price in Rhode Island reported highest in 2014 since start of recession in 2008


PROVIDENCE, Rhode Island — The Rhode Island Association of Realtors says the median house price in the state rose last year to $215,000, the highest year-end median since the start of the recession in 2008.

The Providence Journal reports ( ) that a strong fourth quarter helped boost results for the year. The number of houses sold was up 6 percent in the fourth quarter, while for 2014 sales were up by only 0.25 percent.

Single-family house sales numbered 8,891 in 2014, a small increase from 2013.

The number of distressed house sales fell by 19 percent between 2013 and 2014. Distressed sales include foreclosures and short sales, or houses that sold for less than the outstanding mortgage owed, and require bank approval.

Information from: The Providence Journal,

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