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Rhode Island Real Estate in May: Sales Up 21% YoY, Inventory Down 62% YoY

Summary:
Note: I'm tracking data for many local markets around the U.S. I think it is especially important to watch inventory this year.  Remember sales were weak in April and May 2020 due to the pandemic, so the YoY sales comparison is easy. For for the entire state of Rhode Island:Closed sales (single family and condos) in May 2021 were 1,081, up 21.4% from 890 in May 2020.Active Listings (single family and condos) in May 2021 were 1,143, down 62.4% from 3,036 in May 2020.Inventory in May was down 25% from last month.

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Note: I'm tracking data for many local markets around the U.S. I think it is especially important to watch inventory this year.  Remember sales were weak in April and May 2020 due to the pandemic, so the YoY sales comparison is easy. 

For for the entire state of Rhode Island:

Closed sales (single family and condos) in May 2021 were 1,081, up 21.4% from 890 in May 2020.

Active Listings (single family and condos) in May 2021 were 1,143, down 62.4% from 3,036 in May 2020.

Inventory in May was down 25% from last month.

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