Commercial and Residential Real Estate Trends

Residential Real Estate Trends

Boston

• Based on the Realtor report, the housing sales growth in the Boston area is around 2.1%.
• Meanwhile, the price growth in the city is around 1.2%.

Connecticut

• In Connecticut, sales is expected to decline at the rate of 4.1%.
• On the other hand, price growth in the state is rise at the rate of 4.8%.

Providence

• Providence is also expecting a dip in its sales at a downward rate of 2.1%.
• However, the state is seen to have a 0.2% slight uptick in its housing prices.

Country-wide Trends

• Factors impacting these sales and price growth trends on a nationwide scale include a low supply of housing inventory that is contributing to the declining sales.
• The migration toward more affordable areas are also impacting the sales and price growth of housing in the whole country.

Commercial Real Estate

Boston

• Based on the IRR report, industrial, office, and retail real estate properties in Boston will continue to have a solid growth rate.
• The industrial sector is expected to remain stable and the office market continues to have a positive outlook.
• In the retail space, rising rental fees and constant vacancy rates are expected to contribute to the growth of the market.

Providence, Rhode Island

• Based on the Amtrak report, increasing business activities in the area will drive the commercial growth in the city.

Connecticut

•  Migrations out of Connecticut are contributing to the slowdown in the growth of the industries such as real estate in the area.