Real Estate

U.S. home prices rose 10 percent in January, the highest year-over-year increase in more than seven years. Low mortgage rates left over from 2020 encouraged first-time homebuyers to try the housing market, allowing home price to remain strong despite economic uncertainty, according to CoreLogic in Irvine. “Record-low mortgage rates were …

A 32-unit apartment complex in Riverside has sold for $5.4 million. Located at Madison Street and Magnolia Avenue, the two-story multifamily property has exclusively one-bedroom floorpans, according to a statement released today by CBRE. The purchase price works out to $170,000 per unit. Brian and Sue McMillan were the sellers …

An 80,000-square-foot industrial building in Rialto has been leased. The building, at 1798 N. Linden Ave., will be fully occupied by “a well-established leader in the bedding industry,” according to Dermody Properties in Reno, Nev., owner of the property. The future occupant’s name, and how many people will work there, …

A 30-unit apartment complex in Moreno Valley has sold for $6.7 million. That is the most ever paid for a multi-family property in that part of Riverside County, according to the The Mogharebi Group, the Costa Mesa-based real estate brokerage that negotiated the sale. The sale price of Victory Gardens …

An information management and digital services company has leased distribution space in Rialto. Ricoh USA Inc. will occupy 374,000 square-feet in a logistics building at 1920 W. Baseline Road, according to a statement released yesterday. The company plans to use the building for light assembly and distribution. Terms of the …

Fewer than half the African-American and Hispanic households in California last year could afford a median-priced home, according to data released Tuesday. Only 19 percent of black households and 20 percent of Latino households could afford a median-priced, single-family home of $659,380, the California Association of Realtors reported in its …