Midwest real estate sales jump

Housing markets in Ohio and Illinois during February posted strong gains compared to a year ago, while prices experienced mixed movement, according to the Realtor associations in both states.

In Ohio, February home sales reached 8,393, a 7.1 percent increase from the 7,834 sales posted in February 2005, the Ohio Association of Realtors reported.

The average sales price of an Ohio home dipped 2.6 percent in February to $143,083, down from the year-ago price of $146,971.

The Realtors association said a record number of sales were recorded during the  more...

Houston real estate rides uptrend

The Houston real estate market continued strong in February, as home sales grew for the fifth straight month and the median home price set a record, according to statistics released by 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 5,792 in February, up 16.4 percent from a year ago.  more...

First American buys GIS company

First American Real Estate Information Services has acquired Harvard Design and Mapping Co., a provider of Geographic Information Systems technology to businesses and governments worldwide, the company said Thursday.

Terms of the purchase, which closed on March 1, were not disclosed.

The purchase is expected to strengthen the company's ability to use GIS technology solutions to help First American clients handle flood risk and data management, a company official said in an announcement.

GIS technology includes computer pl  more...

Californians veer from adjustable real estate loans

The use of adjustable-rate mortgages for home purchases has declined significantly in California during the past three months, the result of more caution among buyers and lenders in a market that is seeing slowing increases in home values, a real estate information service reported.

The use of ARMs, which are easier to get and are considered by many to be an indication that buyers are stretching their finances, fell to 51.9 percent in February.  more...

Oxley to speak at real estate event

House Financial Services Committee Chairman Michael Oxley, R-Ohio, who recently commissioned a study by the General Accountability Office on competitiveness in the title insurance industry, will address a real estate service providers' conference in Washington, D.C., in April, the group said today.

Oxley will speak during the Real Estate Services Providers Council's 2006 Annual Conference, "Making Your Affiliated Businesses & Strategic Alliances More Effective," on April 5, 2006.

While Oxley has announced his retire  more...

New-home sales fall 13.4%

Sales of new single-family houses in February dropped approximately 13.4 percent from a year ago to a seasonally adjusted annual rate of 1.08 million, according to estimates released jointly today by the U.S.  more...

Overnight real estate rates move lightly

Long-term mortgage interest rates were mostly flat Thursday, and the benchmark 10-year Treasury bond yield rose to 4.74 percent.

The 30-year fixed-rate average inched up to 5.88 percent, and the 15-year fixed-rate held at 5.57 percent. The 1-year adjustable was down at 4.89 percent.

The 30-year Treasury bond yield gained to 4.75 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states.  more...