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GoLocalProv | Live | Value of U.S. Housing Market Shrunk the Most Since 2008, But Not in RI

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GoLocalProv | Live | Value of U.S. Housing Market Shrunk the Most Since 2008, But Not in RI


Thursday, February 23, 2023

 

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Josh Cullion of Mott & Chace on GoLocal LIVE

The worth of america housing market shrunk by probably the most because the Nice Recession, in response to a report in Bloomberg.

However, that will not be the identical pattern in Rhode Island, the place the median value of the single-family house has remained at about $400,000 for greater than six months.

One prime Rhode Island relator in Rhode Island, Josh Cullion of Mott & Chace Sotheby Worldwide, stated he believes costs will proceed an upward swing in 2023.

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“If I have been to guess, I need to say possibly we’ll be in that $450,000 [median price of a single-family home] possibly $425,000 vary…given what may transpire, , much like final yr,” stated Cullion.

In Rhode Island, information tendencies level to additional competitors.

The median value of a single-family house was $392,750 in January — listing value up 8% yr over yr.

Gross sales value up 6.2% yr over yr.

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And, stock is down 23%.

“It’s loopy on the market,” stated Cullion.

 

Nationally

“After peaking at $47.7 trillion in June, the full worth of US houses declined by $2.3 trillion, or 4.9%, within the second half of 2022, in response to actual property brokerage Redfin. That’s the most important drop in proportion phrases because the 2008 housing disaster when house values slumped by 5.8% from June to December,” reported Bloomberg.

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“The housing market has shed a few of its worth, however most owners will nonetheless reap huge rewards from the pandemic housing growth,” Redfin economics analysis lead Chen Zhao instructed Bloomberg. He additionally identified that the whole worth of houses stays roughly $13 trillion greater than it was in February 2020. 

 

  • Median Worth of a Home in RI Is Freezing Consumers Out—See High 10 Most Expensive
  • Is the Median Worth of a Rhode Island House Headed for $400,000?
  • RI House Costs Explode in Second Quarter – East Aspect Median Worth Hits $682K, BI $1.28M
  • RI House Gross sales Down 6.9%, Median Worth Jumps to $280K Highest Since 2007
  • RI House Gross sales Drop, Median Worth Rises in September
  • Median Worth For Single Household House Tops $200K For First Time Since ‘08
  • Median Worth of Single Household House in RI Was $384,000 in July – Up 16% Over 2020
  • Out-of-Staters Shopping for Up RI, Median Worth of a Single-Household House Hits $390,000
  • RI Actual Property: Median Worth $405K, Little Stock and Common Mortgage Fee Up 53% in a Yr
  • Value of Shopping for a House Has Jumped 55% in a Yr – As Curiosity Charges Rise, Median Worth in RI $416K
  • Aid for Consumers – Median Worth of a Single Household House in RI Falls, However So Does Variety of Gross sales
  • RECORD: Median Worth of Single-Household House in RI Now $420,000
  • RI Median Worth for Single Household House Falls, Lastly
  • RI’s Median Worth for Single-Household House Drops for Second Consecutive Month
  • Median Worth of a Single-Household House in RI Drops to $390K, Curiosity Charges to Decline

 

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Rhode Island

2 killed, 1 injured in Christmas Eve head-on crash in Foster, RI

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2 killed, 1 injured in Christmas Eve head-on crash in Foster, RI


Two people were killed and another injured in a head-on crash in Foster, Rhode Island, on Christmas Eve.

Police tell NBC10 Boston affiliate WJAR that they responded to the crash around 3:10 p.m. Tuesday on Hartford Pike and found two vehicles in the eastbound lane with heavy front-end damage, as well as three people with serious injuries.

An investigation shows one vehicle was traveling westbound when it crossed over into the eastbound lane in an attempt to pass several other cars, and struck another vehicle head-on, according to WJAR.

The driver of the first vehicle — identified as Aaron McCrory, of Danielson, Connecticut — was taken to Rhode Island Hospital where he was pronounced dead, WJAR reports. A passenger in the second vehicle — identified as Sandi Brooks, of Vernon, Conn. — was also taken to Rhode Island Hospital where she died from her injuries.

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The driver of the second vehicle was injured in the crash and taken to Rhode Island Hospital where they are in stable condition, police tell WJAR.

Further details about the crash have not been released.



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Rhode Island

Woman dies in Rhode Island car crash 1 month after husband of 58 years died unexpectedly

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Woman dies in Rhode Island car crash 1 month after husband of 58 years died unexpectedly


Two people are dead and another injured after a vehicle collision on Tuesday in Rhode Island.

Crews responded to the area of 212 Hartford Pike in Foster at approximately 3:15 p.m. for a two-car head-on crash with one occupant still trapped in the vehicle and not breathing.

According to WJAR 10, a vehicle traveling westbound crossed over into the eastbound lane attempting to pass several vehicles.

The operator of the passing vehicle, 34-year-old Aaron McCrory of Danielson, Connecticut, was brought to Rhode Island Hospital where he was pronounced deceased.

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The passenger of the second vehicle, 81-year-old Sandi Brooks of Vernon, Connecticut, was also transported to Rhode Island Hospital where she was pronounced deceased.

The driver of the second vehicle is in stable condition at Rhode Island Hospital.

82-year-old Neil Brooks, who was married to Sandi for 58 years, passed away suddenly on Wednesday, November 27, 2024.

While the crash was a terrible tragedy, we can hope that Neil and Sandi are together again.

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Rhode Island

Rhode Island man to plead guilty to setting fire to Black church

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Rhode Island man to plead guilty to setting fire to Black church



Kevin Colantonio, 35, of North Providence, R.I., was arrested a few days after the fire at Shiloh Gospel Temple. He is expected to admit to targeting the church because of its mostly Black membership.

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PROVIDENCE, R. I. – A Rhode Island man has agreed to plead guilty to charges that he set fire to a North Providence church earlier this year, targeting it because of its mostly Black membership, according to court documents.

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Kevin Colantonio of North Providence was arrested a few days after the early morning fire Feb. 11 at Shiloh Gospel Temple, a Pentecostal church.

He admitted to buying a Bic lighter and gasoline at a nearby Cumberland Farms shortly before midnight, pouring the gasoline around the outside of the church and igniting it, according to a plea agreement filed Friday in U.S. District Court, Providence.

Colantonio’s actions caused church services to be cancelled, according to court records, preventing its congregants from their free exercise of religion. He stipulated he chose the church because of actual or perceived color, race, religion, national origin or ethnicity of its members.

Surveillance video, information from witnesses and a bank card helped lead police to Colantonio. Investigators said they found racist writings in Colantonio’s apartment. Prosecutors read from one of them during Colantonio’s initial court appearance four days after the fire. It said: “Hunt them down. Gun everyone who isn’t white.”

Colantonio has also agreed to plead guilty to charges that he threw feces and urine at two prison guards who were delivering his breakfast on March 4 at the Donald W. Wyatt Detention Facility in Central Falls, court papers show.

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Colantonio was charged with damage to a religious property, malicious damage by means of fire and two counts of assault of a federal officer. The first two counts carry a maximum sentence of 20 years in prison and a $250,000 fine. The second count requires a minimum sentence of five years.

The arson unnerved the church community, which has about 100 members, and drew intense police scrutiny. Pastor Eric Perry said the fire could have been fatal if the church had been holding a service when it was set.



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