R.I. home prices plummet

PROVIDENCE—Home prices in Rhode Island continue to plummet.

The Rhode Island Association of Realtors reported on Monday that the median price of a single-family house in August fell to $235,000, down from $279,900 in August 2007.

The Warren Group reported separately that house prices in the state during the same period fell to less than $233,000, the lowest August level in six years.

The Boston-based research firm reported single-family house sales fell 16.7 percent in August, while the Realtors group reported a 22 percent sales decline.

The organizations use slightly different measurement techniques. Officials say the market will continue to struggle with the current credit crisis.