Top Realtor Sees Improving Inventory This Spring in Rhode Island

Top Realtor Sees Improving Inventory This Spring in Rhode Island

Robert Rutley, a top realtor with Mott & Chace Sotheby’s International, sees an improvement coming this spring to the inventory levels of homes available for buyers.

Appearing on GoLocal LIVE, Rutley said, “It looks like there's some hope out there in real estate; we have got a little bit of a nudge up on new listings. We expected this for March. You know, as soon as the daffodils start popping up, for some reason, buyers go rabid, and people are listing properties left and right."

Rhode Island’s housing market has been suffering through near record low levels of homes on the market.

"There are a lot of people looking, so it's super complicated. I'm hopeful because there is a little more inventory, but it's still tough going, and there's going to be a lot of competition," said Rutley.

And, regardless of interest rates, Rutley believes there is a significant segment of motivated buyers in the market.

"I think that we are at a point where people have held off as long as they possibly can, and if they need to purchase a home, they have to purchase a home," Rutley added.