GoLocal Prov: Providence Ranked Among Worst Cities in U.S. for 1st Time Home Buyers

Overall, Providence is ranked 267th out of 300 ranked cities.

As GoLocal reported Saturday, on the East Side of Providence, in particular, home values are skyrocketing, with houses that only a few years ago were worth $400,000 or $500,000 are now selling for a million dollars or more.

Houses go on the market and within a week there are more than a dozen offers meeting or exceeding the asking price — often by cash buyers.

Sally Lapides, President and CEO of Residential Properties, Ltd., says the combination of older people looking to downsize and Providence's appeal as a city are fueling the boom. Buyers are more and more New York transplants or Boston commuters.

To view the complete article, visit GoLocal Prov

Courtesy of GoLocal Prov