RI housing prices down again

PROVIDENCE, RI (WPRI) - For the sixth straight month, the median home price in Rhode Island continues its decline.

According to the Warren Group, a company that provides information about New England real estate, the state's home and condo sales registered record losses for November of 2008.

The average price for a single family house in Rhode Island fell to $205,000. That's nearly 20 percent lower than it was in November of 2007.

Meantime, condo sales sunk 40 percent from November of 2007. In November of 2008, the average price slipped to $188,000.

Experts say Providence and Kent counties have seen the most extreme price declines this year.

Home Sales in Rhode Island are also down for November of 2008. That's after picking up a bit in October.