Commercial and Residential Real Estate Trends
Delivered January 8, 2020. Contributor: ChristineD
Goals
Determine 2020 mega real estate trends affecting the commercial and residential real estate markets in three areas: Connecticut, Providence, RI and Boston, MA.
Early Findings
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
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
Connecticut
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