Home sales on the rise in RI

PROVIDENCE, R.I. (AP) -- The number of single-family homes and condos sold in Rhode Island made a big jump in November.

The Rhode Island Association of Realtors says the number of single-family homes sold in November increased 43 percent from November 2011, and the number of condos jumped 37 percent.

The median price of single-family homes held about steady, with an increase of about 1 percent, to about $195,000. Condo prices jumped 25 percent, to a median of about $205,000.

Association President Victoria Doran says the group is optimistic about 2013, but concerned about the fiscal cliff and talk about eliminating the home mortgage interest deduction on second homes. She says eliminating that deduction could hurt the housing market in Rhode Island.