Realtors give readings on local markets

Editor's note: No one knows the local real estate market better than Realtors. In this two-part series, Inman News sought out local insights on what's happening on the ground and what agents think is in store for 2007. (Read Part 2.)

Terry Murphy
Executive Vice President
West Contra Costa Association of Realtors
Richmond, Calif.

How is your market?

"It's moving.  more...

Overnight real estate rates sleep

Long-term mortgage interest rates held steady Thursday, and the benchmark 10-year Treasury bond yield fell to 4.55 percent.

The 30-year fixed-rate average stayed at 5.68 percent, and the 15-year fixed rate remained at 5.44 percent. The 1-year adjustable was unchanged at 5.31 percent.

The 30-year Treasury bond yield dropped to 4.69 percent.

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

Houston real estate posts best November ever

Houston real estate sales jumped for the 14th straight month in November, helping to set monthly records in the single-family sector, the Houston Association of Realtors reported.

Realtors last month recorded some 6,373 total property sales -- which includes single-family homes, townhomes, multifamily homes, country homes, high-rise properties and lots listed on the MLS -- a 9.8 percent increase over November 2005.

Single-family sales have been rising from their year-earlier levels now for 34 months, and the 5,299 sales of new and existing single-family units last month is th  more...

Canadian home sales activity on pace with 2005

A total of 39,721 existing homes across Canada were sold via the nation's Multiple Listing Service in November, down 3.8 percent compared to November 2005 and up 1.2 percent compared to October, according to seasonally adjusted statistics released today by The Canadian Real Estate Association.

"British Columbia and Alberta fueled most of the monthly increase in national sales activity," the association reported.  more...

HUD awards $13.7 million for technology centers

The U.S. Department of Housing and Urban Development today announced the award of $13.7 million in grants to provide public housing residents with greater access to computer technology.  more...

Study: Borrowers lost out by paying points on mortgages

Most borrowers who paid points to lower their mortgage rates at a time when interest rates were falling and property values were rising came out behind, and were less likely to take advantage of opportunities to refinance their loans, a new study concludes. 

For mortgages originated between 1996 and 2003, less than 2 percent of home buyers held their loans long enough to justify buying points, according to the study, "Do Borrowers Make Rational Choices on Points and Refinancing?"  more...

South, Southwest are nation's fastest-growing regions

Arizona, Nevada and Idaho had the fastest-growing populations between July 2005 and July 2006, while Louisiana lost nearly 5 percent of its pre-Hurricane Katrina population during the period, the U.S.  more...

Overnight real estate rates stay put

Long-term mortgage interest rates were flat again Wednesday, and the benchmark 10-year Treasury bond yield inched up to 4.6 percent.

The 30-year fixed-rate average stayed at 5.68 percent, and the 15-year fixed rate held at 5.44 percent. The 1-year adjustable was unchanged at 5.31 percent.

The 30-year Treasury bond yield increased to 4.73 percent.

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

Economy to crawl into '07

The economic outlook improved for the third straight month in November, but sluggishness in the employment and home construction sectors will put a drag on the future rate of growth, The Conference Board reported today.

The U.S.  more...