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Real Estate

Home prices hit highest point in 16 years

median priced home

U.S. home prices rose 13 percent in April year-over-year, the largest increase of that kind since February 2006. Not enough new houses are being built, combined with an ever-growing number of people who want to enter the housing market or purchase a “move-up” home, which continues to push home prices …

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Two apartment complexes sell in Colton

Sold Sign

CBRE has negotiated the sale of two multifamily properties in Colton. Reche Ridge at 2270 Cahuilla St., and 1333 Canyon at 1333 Reche Canyon Road, sold for a combined $41 million in an off-market transaction, according to a statement released by the commercial real estate brokerage Wednesday. The buyer was …

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Inland broker helps with sale of Arizona preschools

Residential development for sale

Progressive Real Estate Partners in Rancho Cucamonga has negotiated the sale of six preschools in Arizona. The Sunrise Preschools – two in Mesa and one each in Phoenix, Tempe, Chandler and Glendale – changed hands for a combined $16.9 million, according to a statement on Progressive’s website. Average price per …

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Lewis Retail continues work on Nevada project

Lewis Retail Centers has started construction on a building at a major retail project it’s developing in Nevada. The structure, which is 60 percent pre-leased, will cover 13,200 square feet at the Damonte Ranch Town Center in South Reno, according to a statement on the Upland-based company’s website. It will …

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Median home price reaches $800,000 in California

building sold

The median price of a single-family home in California reached $800,000 in April, the first time the state’s housing market has reached that height. Strong demand, and a shortage of homes for sale, caused the market to hit that mark, according to data released this week by the California Association …

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