Economic Activity
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N.Y. company purchases E.P. apartment complexes for $55M
A New York real estate investment company said Tuesday it has purchased the Winchester Park and Winchester Wood apartment complexes off Pawtucket Avenue for approximately $55 million. more
R.I. home sales, prices tick up in 1Q
Rhode Island’s single-family home sales rose slightly – 0.5 percent – during the first quarter of 2013, the Rhode Island Association of Realtors said Tuesday. more
| 4/30/13
‘Superman’ owner seeks up to $75M in public financing
The owner of the Industrial Trust Tower in downtown Providence is asking for up to $75 million in public financing to transform the historic office building into apartments. more
R.I. foreclosure inventory falls slightly in March
The foreclosure inventory in Rhode Island dropped slightly from March 2012 to March 2013 to 3.1 percent, CoreLogic reported Tuesday. This means that 3.1 percent of all homes with a mortgage in Rhode Island were in one aspect of the foreclosure process. more
| 4/30/13
Stocks rise as home sales climb amid stimulus optimism
U.S. stocks rose, with the Standard & Poor’s 500 Index heading for its sixth straight month of gains, as pending sales of homes climbed amid optimism central banks will maintain stimulus plans. more
Pending sales of existing homes climbed 1.5% in March
More Americans than forecast signed contracts in March to buy previously owned homes, another indication of progress in the housing market. more
Consumer spending climbs more than forecast on U.S. services
Consumer spending in the U.S. rose more than projected in March, reflecting a jump in outlays for services that is unlikely to be repeated, signaling the biggest part of the economy will soften this quarter. more
Soaring costs hampering U.S. housing rebound
Even as U.S. housing rebounds from its worst downturn since the 1930s, production bottlenecks are pushing up building-materials costs, land prices are rising and skilled labor ready to begin work is hard to find. more

By Rhonda Miller
PBN Staff Writer | 4/29/13

MassBenchmarks: State has ‘excellent’ 1Q
Massachusetts’ real gross state product increased at a 3.9 percent annualized rate during the first quarter, according to the Current Economic Index released Friday by MassBenchmarks. more
| 4/26/13
WaterFire lands $50K NEA grant
WaterFire Providence has been selected as one of 817 nonprofit organizations nationwide to receive a National Endowment for the Arts grant, the national organization announced Friday. more
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