RI’s housing crunch: prices rising amid low inventory, little construction

If you or someone you know has been looking for a house lately, it’s not your imagination: Rhode Island’s housing market is red hot once again. A decade after the housing bubble burst and the Great Recession took hold, all signs now point to a seller’s market. The median price of a single-family home in Rhode Island hit $255,000 last year, up 13% since 2015 and 34% since 2012, according to the Rhode Island Association of Realtors. Houses were on the market for just 65 days in February, down from 110 days in 2015, and the number up for sale was down by half versus 2012.

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Source: WPRI