News

Warwick, R.I. – July 20, 2023 – Today the Rhode Island Association of Realtors released June sales data which portrayed a local housing market that has seen little change. The median sales price of single-family homes continues to rise, hitting $442,700, a three percent year-over-year gain and a historic monthly high. Rhode Island’s annual price appreciation runs counter to the national trend which has seen year-over-year declines in recent months.

Would you like to have input into issues that affect you and your profession? Become a leader at the national level. Apply to serve on the 2023-2024 National Association of REALTORS® Board of Directors by August 3rd.

Starting on January 1, 2024,  a new state law will prohibit landlords, rental agents, and property managers from charging application fees to rental applications - with two exceptions.   Landlords and their representatives will be able to charge applicants for the actual cost of conducting (1) a credit check or (2) a criminal background check unless the rental applicant has provided a credit report and BCI/police background check dated no more than 90 days before the day of the application.

The Rhode Island Attorney General has made enforcement of lead laws a top priority and filed legislation to strengthen and expand them.  The Rhode Island General Assembly approved a number of new laws.  See a list of those laws and when they go into effect.