News

According to data from State-Wide Multiple Listing Service, a subsidiary of the Rhode Island Association of Realtors, the monthly median price of single-family homes has followed an upward trend for 66 consecutive months. The rate of increase has been diminishing since April however, when the median price of homes escalated by 20% more than 12 months earlier. By July, the median price rose only 6.8 percent to $410,000, the lowest rate of increase since the spring of 2020, following the economic shutdown.

As a result of a new law, all rental properties, units, or rooms that will be listed on a third-party hosting platform and rented for not more than thirty (30) nights, will be required to register with the Rhode Island Department of Business Regulation.    DBR anticipates that registration will be available starting on October 1, 2022.

The REALTOR® Foundation: Rhode Island offers quarterly grants of up to $5000 to non-profit organizations that provide financial and other forms of assistance to Rhode Islanders affected by a personal or natural disaster. The deadline for the third quarter application cycle is August 15th at 5 pm.