PHOTO: GoLocal
The number of homes for sale for the spring season in Rhode Island is the lowest on record.
With just 1192 single-family homes on the market in Rhode Island, the current inventory is approximately 25% less than the previous monthly record low of 1594 in the spring of 2002, said the RI Association of Realtors.
Not only has the number of single-family homes for sale averaged roughly half of that recorded during the first quarter of 2020, there seems to be no letup in sight. GET THE LATEST BREAKING NEWS HERE SIGN UP FOR GOLOCAL FREE DAILY EBLAST
According to the realtors, at the current rate of sales, if no more listings were added to the supply, no single-family homes would be available for purchase within 1.2 months, continuing a record low set in February.