Wednesday , February 5 2025

Real Estate

Southern California home prices soar, to the detriment sales

Local, National Home Prices Continue to Increase

Home sales in Southern California fell 3.4 percent in May, and it’s not difficult to see why. The median price of home – $530,000 – was a record for the six-county market and an 8.2 percent increase year-over-year, according to data released by CoreLogic in Irvine. Last month’s  drop in …

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Office property fetches nearly $6 million

Inland Empire office market continues to improve

A 33,300-square-foot office building in Temecula has been sold. Temecula Oaks, which covers 2.5 acres in the Rancho California Business Park, sold recently for $5.8 million, according to Toronto-based Avison Young, an international commercial real estate firm. The property, at Rancho California Road and Business Park Drive, was built in …

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Mortgage delinquencies stay low

Four point three percent of all U.S. mortgages were in some state of delinquency – 30 days or more more past due – in March, virtually unchanged year over year, according to data released Tuesday. Also in March, the national foreclosure inventory rate was 0.6 percent, its lowest level since …

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Apartment properties sell

Inland apartments part of major transaction

A 21-unit apartment portfolio in Riverside has been sold. Located at 4543-4581 Main St. and 4566 Orange St., the package includes seven and eight-unit apartment complexes, three duplexes and a single-family home, according to a statement by Los Angeles-based CBRE. The price was $2.8 million. Neither the buyer nor the …

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Hotel breaks ground

Ground has been broken on a 90,000-square-foot hotel in Ontario. The 131-room Element by Westin Hotel will be built on 4.5 acres at 900 N. Via Piemonte Ave. across from Citizens Business Bank Arena, according to a statement. The four-story project, which is expected to be completed by the fall …

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U.S. home prices stay up

Home Prices Increase

U.S. home prices increased nearly seven percent year-over-year in April and 1.2 percent month-over-month, according to data released today. In the Inland Empire, single-family home prices – not counting distressed sales – were up 8.2 percent compared with April 2017 and were essentially unchanged from March, Irvine-based CoreLogic reported. The …

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