By Inman News, Sunday, July 24, 2005. The median price of an existing home in California in June increased 16 percent and sales increased 3.6 percent compared to the same period a year ago, the California Association of Realtors reported today. "Fixed mortgage interest rates have fallen compared with a year ago, and remain below 6 percent," said Jim Hamilton, association president. "This continues to propel both sales and the median price of a home as consumers gauge current market conditions against future interest rate increases." more...
By Inman News, Sunday, July 24, 2005. Apartments24-7.com, a provider of interactive Web sites for the apartment industry, today announced an online Lease Quote System and the integration of interactive Google maps. The new Lease Quote System allows leasing consultants to interact with rental prospects by producing prorated lease quotes directly from their Web sites for available and future available apartments that are displayed for rent. more...
By Inman News, Sunday, July 24, 2005. Despite cooling home sales across Florida in May, the statewide median price of an existing single-family home soared from a year ago, the Florida Association of Realtors reported today. The statewide median price of an existing single-family home was $248,700 last month, up 31 percent from a year ago when it was $189,200. In June 2000, Florida's median sales price was $119,600, according to FAR records, resulting in an increase of nearly 108 percent over the five-year period. more...
By Inman News, Sunday, July 24, 2005. With fewer loan set-ups and payoffs compared with the previous two years, mortgage-servicing costs decreased and servicing productivity improved in 2004, according to the results of the 2005 Cost of Servicing Study conducted by the Mortgage Bankers Association. more...
By Inman News, Sunday, July 24, 2005. The U.S. leading index, a key barometer of economic conditions, gained 0.9 percent in June, the Conference Board reported. The leading index now stands at 137.7. Based on revised data, this index remained unchanged in May and increased 0.2 percent in April. During the six-month span through June, the leading index increased 0.6 percent, with five out of 10 components advancing. more...
By Inman News, Sunday, July 24, 2005. Total existing-home sales – including single-family, town homes, condominiums and co-ops – set a new record in June, increasing 2.7 percent since May, the National Association of Realtors reported today. If sales continued at this June pace for a full year, accounting for seasonal fluctuations in sales, it would represent 7.33 million home sales, the association reported, up from a seasonally adjusted pace of 7.14 million home sales in May. more...
By Inman News, Sunday, July 24, 2005. Legislation that could force Fannie Mae and Freddie Mac to significantly reduce their investment portfolios was released Friday by Senate Banking Committee Chairman Richard C. Shelby, R-Ala., the Washington Post reported. more...
By Inman News, Sunday, July 24, 2005. Consumers looking to buy condominiums or townhomes will be able to zoom over and around cities and condo projects using Google Earth on CondoBuzz.com. CondoBuzz.com, a national network of 1,500 real estate Web sites focused on condos and townhomes, has incorporated Google Earth's three-dimensional imagery feature into some of its local condo Web sites, according to Randy Kempenich, president of Kemteck Inc., which owns CondoBuzz.com and its affiliated Web sites. more...
By Inman News, Sunday, July 24, 2005. Overall home sales and median prices in the Houston metropolitan area climbed to new highs in June, according to the Houston Association of Realtors. Total property sales, which includes single-family homes, townhomes, multifamily homes, country homes, high-rise properties and lots listed on the MLS, totaled 7,880 for the month of June, which was a 5 percent increase over June 2004. Additionally, year-to-date total property sales reached 37,629, which is an increase of 7.2 percent over the first half of 2004. more...
By Inman News, Sunday, July 24, 2005. Long-term mortgage interest rates continued rising Friday, and the benchmark 10-year Treasury bond yield fell to 4.22 percent. The 30-year fixed-rate average rose to 5.31 percent, and the 15-year fixed-rate gained to 4.91 percent. The 1-year adjustable was up at 3.74 percent. The 30-year Treasury bond yield sank to 4.44 percent. Rates are current as of 7:15 p.m. Eastern Standard Time. more...
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