B
arrington, RI residents flocked to open houses on Sunday, taking advantage of the recent Federal Reserve interest rate cut and plummeting mortgage rates. For some potential homebuyers like Brian Paradis, this is the perfect time to start their search.

    "We've been waiting for a while now," said Paradis, who's been looking at homes with his family. "The interest rate drop has given us the push we needed to get serious about finding our next home."

    According to Mathew Patty, a real estate broker for Century 21 Shoreline Properties, Rhode Island's housing market has seen significant growth since the pandemic, with average house values increasing by around 50%. Despite this, Patty notes that it's still a seller's market, but the interest rate drop brings hope for buyers. "It will be interesting to see how these changes impact the market," he said.