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Real Estate

Land for housing development sells

Housing Development to Break Ground

WD Land in Irvine has completed the sale of two large tracts of land in Riverside County, both of which will be used for residential development. The first, in an unincorporated area near Menifee and the community of Winchester, sold for approximately $10 million in a transaction between two private …

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Inland Empire office market gets stronger

The Inland Empire office market added more than 323,172 square feet of space during 2016, with most of that activity happening around Ontario International Airport, according to data released Tuesday. That absorption, combined with an absence of new development, caused the two-county region’s vacancy rate to drop to 12.9 percent …

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Industrial market continues to shine

Industrial Market Stays Hot

The Inland Empire industrial market continued to hum during the fourth quarter of 2016. Vacancy in the two-county region was 4.5 percent, down from 5.3 percent in the third quarter, according to Voit Real Estate Services’ latest quarterly industrial report on the region. More than 91 industrial buildings – nearly …

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National local apartment rents go in opposite directions

National local apartment rentals

U.S. monthly apartment rents dropped an average of $4 in December. The average rent for an apartment unit nationwide last month was $1,210, a four percent year-over-year increase, according to Yardi Matrix, an apartment information service in Santa Barbara. The Inland Empire bucked the national trend. Apartment rents in Riverside …

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Home Prices on the Rise

Home Prices Increase

Home prices, including distressed sales, rose 6.1 percent in the Inland Empire year-over-year in November, according to data released Tuesday. That was exactly one percent below the national rate of 7.1 percent, Irvine-based CoreLogic reported. Month-over-month, home prices in Riverside and San Bernardino counties were virtually unchanged, up only 0.4 …

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Home sales up, but the numbers are deceiving

Home Prices Up

Home sales in Southern California rose 24.1 percent in November year-over-year, but that increase isn’t as impressive at it might appear. Artificially week sales in November 2015 accounted for much of that increase, which was the highest recorded in the month of November since 2012, said Andrew LePage, research analyst …

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