Projo Biz Blog

PROVIDENCE, R.I. (AP) -- The median price of a home in Rhode Island has fallen by 20 percent or more for four straight months compared with the same time last year.

The Warren Group, a Boston-based real estate consulting firm, said Thursday that home prices plunged in February by nearly 26 percent over last year.

The median selling price for a single-family home was down from $248,000 in February 2008 to $184,000 last month.

Overall, the group said, Rhode Island has seen nine consecutive months of decline and is experiencing the worst price drops since the last housing downturn of the early 1990s.

 Tags  price Providence real estate Rhode Island

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