Tracy LeRoux
TracyLeRoux.net
Rhode Island Real Estate 2023 Predictions
Past Trends The Steady Increase Due to the lack of houses on the market, state leaders are considering various policies that could help increase the supply of homes. The median home price in Rhode Island has increased significantly over the past few years. However, the increase rate has slowed down recently. Despite the recent slowdown, home prices are still expected to continue rising. The rise in the median home price is attributed to the high demand for larger homes from out-of-state buyers.
In 2023 According to a new forecast released by Zillow, home prices are expected to grow by around 3.1% in 2023. The company also noted that price cuts are contributing to the projected increase. As a result, the Rhode Island real estate market is expected to perform better than it did a year ago.