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RI home sales up 25 percent in 4th quarter of 2012

WARWICK, R.I. (AP) -- The Rhode Island Association of Realtors says there's a lot of good news about the state's housing market in the latest statistics.

New figures released Wednesday show single-family home sales increased 25 percent in the fourth quarter of 2012 compared with the previous year's fourth quarter, while the median price was up 5 percent.

There were 2,137 sales of single-family homes in the last three months of last year, compared with 1,716 during the same period in 2011. The median sale price of a single-family home rose to $195,000 in the fourth quarter of 2012 from $185,000 in the previous year's fourth quarter.

Association President Victoria Doran says home prices finally began some upward momentum last fall, in the wake of the recession from late 2007 to June 2009.