‘Searing hot’ demand for homes depletes R.I.’s housing stock, driving up prices

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A SURGE in demand for homes in Rhode Island has driven up prices. The median price of a home sold in May was $365,000, a rise of 17.9% year over year. / AP FILE PHOTO/ROGELIO V. SOLIS
PROVIDENCE – The Rhode Island real estate market is red hot these days as prices rise, inventory dives and the volume of sales in the state shows no sign of slowing down. The median price of a single-family home in Rhode Island in May was $365,000, a rise of 17.9% year over year, according to…

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