In the last few years, Rhode Island’s housing market has been booming. Single-family homes have been selling quickly and for impressive market values. This growth has been a sign that the negative impacts of the housing market crash has finally ended. However, one of the issues in Rhode Island, especially in Providence and the surrounding suburbs, is the supply of housing has not met demand. After the housing market crash, new builds had slowed. So when consumer confidence returned, the supply of houses could not meet demand. Fortunately, for buyers that seems to be changing this year. [Read more…]
Following the 2008 crash, Millennials had opted out of buying houses. With economic instability, high unemployment rates, and mortgage regulations, many were unable to purchase starter homes. However, with the upswing of the market, millennials are finally starting to enter the real estate market. Many of these millennials are making up for lost time and skipping starter homes entirely. They are opting for forever homes instead. [Read more…]
If you’ve ever dreamed of finding a Colonial Revival in the wonderful neighbors in the East Side of Providence, look no further. These stately homes have all the historic charm of this traditional architecture style with plenty of modern amenities. They are situated in pristine neighborhoods with full access to all the great restaurants and shopping, parks, and landmarks of the East Side.
What Is Colonial Revival?
Colonial Revival is a uniquely American style of architecture. They are one of the most traditional home styles found in the United States. Colonial Revival took the gorgeous elements of colonial-period homes that were based on British Georgian architecture and updates them from American life. They are stately homes with a strong distinguished presence. They were extremely popular during the turn of the century, specifically in the 1890s. Colonial Revival is beloved for its timeless design and dedication to tradition. [Read more…]
The Rhode Island market is having a banner year so far in 2018. Providence Business News is reporting that the median price of a single-family home has risen 13% from last year. The average price was $265,000 dollars, the highest value since 2007 before the housing market crash. The increased prices were also seen across all categories including multifamily homes which rose 29% to $225,000 and condominiums with prices up 3% from last year averaging $201,315. [Read more…]
An annual study published by Business Insider ranks every state economy in the United States. This year, Providence Business News reports that Rhode Island has jumped from number 33 to number 9 on the list. This major jump is the result of sound economic policies across the state that have led to a turnaround after the recession. [Read more…]