Updated May 3 at 12:03pm
Real Estate
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The commercial real estate landscape continues to strengthen in Rhode Island, characterized by decreasing vacancy rates and increasing rents across several markets, according to CB Richard Ellis-New England executives, who presented its 2016 Outlook for New England Tuesday. more
(Updated 3:16 p.m.) Single-family home sales in Rhode Island jumped 25.1 percent in November compared with November 2014, marking the seventh consecutive month of double-digit sales growth, according to The Warren Group, publisher of Banker & Tradesman. more
Rhode Island’s foreclosure inventory rate fell 2.7 percentage points over the year in November to 1.8 percent, but was still higher than the national rate of 1.2 percent for the month, CoreLogic said Tuesday. more
A national consultant has advised the I-195 Redevelopment District Commission to create a business innovation district in Providence that is larger than the existing footprint of undeveloped land, and to create an advisory council that would include the perspectives of anchor industries and universities. more
A Wapan Road home in Watch Hill recently sold for $5,975,000, marking the largest sale in that community in 15 months, according to Ray Mott, co-owner of Mott & Chace Sotheby’s International Realty. more
Home prices in the Providence metropolitan area increased 4.2 percent over the year in October to $255,000, but are still far from the high of $310,000 reached in June 2006. more
Foreclosure petitions increased nearly 42 percent in the Bay State with 910 filings by lenders in November compared with 643 filings in November 2014, according to The Warren Group, publisher of Banker & Tradesman. more
CoreLogic said home prices in the Providence-Warwick metro area increased 5.3 percent over the year in November. more
U.S. mortgage rates rose, with the 30-year average topping 4 percent for the first time in five months, after the Federal Reserve’s decision to increase its benchmark lending rate. more
Contracts to purchase previously owned U.S. homes unexpectedly fell in November, confirming earlier figures that showed the industry lost momentum toward the end of the year. more
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