Saturday, November 06, 2021
There is growing uncertainty about the future of the national and Rhode Island residential real estate market.
Locally, every month has seen double-digit year-over-year increases in prices. Now, the median price of a single-family home in Rhode Island is $385,000.
Residential real estate prices have been on a rocket ship upward — but there are some early indications that the market may be changing.
One example of the growth is Residential Properties, which sold a record amount of real estate to date in 2021. The company has sold more than $1 billion dollars in just 10 months, breaking its own record of $1 billion in 12 months in 2020.
And, now there are some indicators that the real estate market may face some serious challenges — one of the…