Twin Cities buyer's market going strong

Home sales in the Twin Cities, Minn., market continued to fall in January, impacted by a rush of new listings and lower prices, according to statistics from two area Realtor associations.

There were 2,502 sales of existing single-family homes, condos and townhomes last month, down 13.3 percent from 2,886 sales a year ago. January's decline marked the 10th consecutive month of lower year-over-year sales.

The median price paid for a home in the 13-county region last month dipped approximately 1 percent from a year ago to $225,000.  more...

Demand cools for Nashville real estate

Home sales in the Nashville, Tenn., metro area were down 3.4 percent in January compared to the same month a year ago amid significant growth in for-sale listings, the Greater Nashville Association of Realtors reported Monday.

According to statistics, there were 2,289 property sales last month, down from 2,371 sales in January 2006. Total sales figures include single-family, condos, multifamily, farms, land and lots.

Inventory at the end of January totaled 17,264, a gain of 26.8 percent from the same time last year when 13,611 properties were for sale.  more...

Rise in overnight real estate rates

Long-term mortgage interest rates inched up again Monday, and the benchmark 10-year Treasury bond yield climbed to 4.8 percent.

The 30-year fixed-rate average rose to 5.81 percent, and the 15-year fixed rate gained to 5.59 percent. The 1-year adjustable was down at 5.37 percent.

The 30-year Treasury bond yield increased to 4.89 percent.

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