Home sales up, while prices dropping

WARWICK, R.I. (WPRI) - Home sales in Rhode Island are going up, while home prices are going down.

According to the Rhode Island Association of Realtors, the number of houses sold went up between July 1 and Sept. 30 -- by 17 percent.

The median price of a home fell by 8 percent -- down to $202,250.

Less than 25% of the homes that did sell were cases of foreclosures, short sales, or where the home was "under water" -- where the home was sold for less than what is owed on the mortgage.

The association said in a news release sales have been ticking up after seeing a dramatic slowdown -- when the homebuyer tax credit expired in July 2010.