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Home sales rise in RI, although median price dips

PROVIDENCE, R.I. (AP) -- The number of single-family homes sold in Rhode Island rose nearly 20 percent in 2012 compared to the previous year, although the median price fell more than 2 percent.

The Rhode Island Association of Realtors on Friday said sales of condominiums were up 11 percent for the year, while the median price fell just 1 percent.

Victoria Doran, president of the group, says the number of sales of single-family homes was up throughout 2012, but there were no price gains until the fourth quarter. The group says prices went up because the market is now balanced between buyers and sellers.