Rhode Island by the Numbers
🔴 30-Year Fixed Mortgage Rate: 6.67%
As of August 13, 2026. 6.69% last week, 6.58% one year ago. Weekly change: down 0.02 percentage points.
Rates improved slightly this week, although the 30-year average remains 0.09 percentage points above its level one year ago.
🟡 Months of Supply: 2.6 Months
Latest statewide single-family reading, June 2026. No new data this week.
At 2.6 months of supply, Rhode Island remains well below what would traditionally be considered a balanced housing market.
🟡 Home Price Appreciation: +5.8% Year Over Year
Rhode Island single-family homes, June 2026. Median sale price: $550,000. No new data this week.
The latest official statewide data shows single-family home prices 5.8% higher than one year ago. The official statewide July closed-sales report has not yet been released, so the June reading remains the latest official statewide benchmark.
🟢 Median Days on Market: 36 Days
Rhode Island active listings, July 2026. Approximately 31 days in June. Monthly change: up 5 days.
Homes are taking longer to sell, giving some buyers more time and potentially more negotiating leverage.
🟢 Active Listings: 1,707
Rhode Island, July 2026. 1,625 in June, approximately +5.7% versus July 2025. Monthly change: up 5.0%.
Buyers have more choices than they did in June and more than they had one year ago.
🟢 Price Reductions: Approximately 420
Rhode Island, July 2026. 366 in June. Monthly change: up 14.8%.
More sellers are adjusting their expectations, particularly when a home was initially priced too aggressively.
Rhode Island Market Meter
Current reading: seller-leaning market. Direction: moving toward balance.
Rhode Island remains supply constrained at 2.6 months of supply, which continues to favor sellers. At the same time, active listings increased 5.0% from June, median days on market increased by 5 days, and price reductions increased approximately 14.8%. Buyers are gaining some negotiating leverage, but the underlying supply shortage keeps the market on the seller side of the balanced midpoint.
What Changed This Week?
Rhode Island’s housing market continues to become more balanced at the margin.
More homes for sale: active inventory increased 5.0% from June and approximately 5.7% from one year ago. Homes are taking longer to sell: median days on market increased from approximately 31 to 36 days. More sellers are reducing prices: price reductions increased approximately 14.8% from June.
Those three trends give buyers more opportunities to negotiate, particularly on homes that have been sitting, were priced too aggressively, or have motivated sellers.
But the reference points matter. Rhode Island’s latest statewide reading remains at only 2.6 months of supply, while single-family home prices were still 5.8% higher year over year in the latest official closed-sales report. So this is not a buyer’s market. It is a seller-leaning market in which buyers are beginning to regain some leverage. For sellers, limited inventory continues to provide support, but pricing, condition, and positioning matter more as buyers become increasingly selective.
Rate Watch
🔴 30-Year Fixed: 6.67%
The Freddie Mac 30-year fixed mortgage average declined from 6.69% to 6.67% this week. That’s a modest improvement for affordability, but rates remain above the 6.58% average from one year ago.
Remember, mortgage rates do not move one-for-one with the Federal Reserve. Mortgage rates are driven primarily by the bond market, particularly longer-term Treasury yields and mortgage-backed securities. Inflation expectations, economic growth, Treasury issuance, and broader bond-market sentiment remain important factors to watch.
Market Takeaway
More inventory does not mean excess inventory. More price reductions do not necessarily mean falling home values. Longer days on market can create negotiating opportunities without signaling a weak housing market.
Rhode Island remains fundamentally undersupplied, but the market is showing clear signs of becoming more balanced at the margin.
For buyers: more choices, more time to evaluate properties, and potentially more negotiating opportunities.
For sellers: limited supply continues to provide support, but today’s buyers are payment-sensitive and increasingly selective. Correct pricing matters.
The number tells us where we are. The reference point tells us what the number means.
Sources
Freddie Mac Primary Mortgage Market Survey, the Rhode Island Association of REALTORS / State-Wide MLS, and Realtor.com residential listings data via the Federal Reserve Economic Data (FRED).