R.I.’s housing supply remains critically low at start of 2023
January home sales in Rhode Island continued the trends seen throughout 2022 of year-over-year gains in median price despite slowing sales. Data recently released by the Rhode Island Association of Realtors portrayed a 5.8% hike in the median price of single-family home sales and a 39.1% drop in sales activity compared to January 2022. Pending sales were also down by 30.1% indicating a continued lull in activity through the next few months. The single-family median sales price last month was $391,375.