The Inland Empire industrial market continued to sizzle during the second quarter, its inventory rising to 622 million square feet following new deliveries. At the same time, vacancy stayed below one percent for the fifth consecutive quarter, a sign that the industrial sector’s “explosive growth” is not slowing, according to …
Read More »U.S. mortgages delinquencies decline
Nearly three percent of all U.S. mortgages were in some state of delinquency in April, a 1.8 percent year-over-year drop, according to data released Monday. Early-stage delinquencies – 30 to 59 days past due – stood at 1.2 percent, up from one percent in April 2021, according to CoreLogic in …
Read More »Piece of La Quinta shopping center sold
Part of a retail community center in La Quinta has been sold for $35 million. Milan Capital Management, a real estate investment company in Orange, purchased 154,383 square feet of One Eleven La Quinta Center, according to SRS Real Estate Partners’ Investment Properties Group in Newport Beach. The seller was …
Read More »Industrial storage space planned for west end
Two real estate investment companies are planning to develop outdoor industrial storage space on land it purchased recently on the west end of the Inland Empire. Iconic Equities and its partner, Leste Real Estate U.S., both based in Miami, recently purchased 5.6 acres for $12 million, according to a statement. …
Read More »U.S., Inland home prices record double-digit growth
U.S. home prices grew 20.2 percent in May compared with May 2021, the 16th consecutive month home prices have posted double-digit growth year-over-year. Thirteen states recorded home price growth of more than 20 percent between May of 2021 and May of this year, while prices increased nearly two percent between …
Read More »Inland Empire housing affordability drops
Several factors, starting with high prices and not enough houses being built, have caused the median price of home to fall out of reach for more residents, according to a UC Riverside study. The Inland Empire, for years one of Southern California’s most affordable housing markets, may no longer …
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