North Las Vegas tops list of fastest-growing U.S. cities

North Las Vegas, Nev., was the fastest-growing city in the U.S. from July 1, 2005, to July 1, 2006, among cities with a population of 100,000 or more, according to U.S. Census Bureau data released this week.

The city of North Las Vegas grew 11.9 percent, from a population of 176,527 in July 2005 to 197,567 in July 2006, according to the report.

McKinney, Texas, was next on the list with 11.1 percent growth, followed by Port St.  more...

NAHB index: affordability ranges from Kokomo to Los Angeles

About 43.9 percent of new and resale homes sold in the first quarter were affordable to families earning the national income, according to the latest Housing Opportunity Index data released this week by the National Association of Home Builders trade group and Wells Fargo.

That compares to 41.6 percent of homes sold in fourth-quarter 2006 and 41.3 percent of homes sold in first-quarter 2006.

An estimated 93.5 percent of homes in Kokomo, Ind., were affordable for median-income families, according to the report,  more...

Residential construction spending drops for 15th straight month

The residential construction spending rate dropped 17.6 percent in May compared to the same month last year, the U.S. Census Bureau announced today, falling for the 15th consecutive month and reaching its lowest level since April 2004.

Residential construction spending fell to a seasonally adjusted annual rate of $549 million in May, compared to $665.9 million in May 2006, according to the report.  more...

Bloggers chase top blog innovator title

The Inman Innovator awards will be presented Aug.  more...

Real estate rates up overnight

Long-term mortgage interest rates inched up Thursday, and the benchmark 10-year Treasury bond yield gained to 5.11 percent.

The 30-year fixed-rate average rose to 6.29 percent, and the 15-year fixed rate climbed to 5.99 percent. The 1-year adjustable was up to 5.55 percent.

The 30-year Treasury bond yield was up to 5.2 percent.

Rates and bonds 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...

'Open house bandits' arrested in Missouri

Police in Berkeley, Calif., reported today that a couple has been arrested as suspects in a cross-country theft spree that targeted real estate agents, their offices, and open houses.

Paul McClung, 30, and Carol Ann Chapman, 59, were arrested in Missouri, police reported today. The duo, dubbed "Open House Bandits" by a television news station, allegedly told real estate agents that they were mother and son and that they sought to pay cash for homes. Berkeley Police Lt.  more...

More pain in May for California home starts, sales

The rate of single-family existing-home sales in California fell 25 percent in May compared to sales for that month last year, while building permits issued for single-family homes declined 40.1 percent, state Realtor and builder trade groups reported this week.

The California Association of Realtors reported a seasonally adjusted annualized rate of 366,370 closed escrow sales of existing single-family detached homes in May, compared to a record sales rate of 488,260 in May 2006.

This sales rate is a projectio  more...

Nearly $1 billion in affordable rental housing proposed

A bill that would provide up to $1 billion a year to build more than 1 million affordable rental units during the next decade and provide down-payment and closing-cost assistance for first-time home buyers has backing from sponsors on both sides of the aisle.  more...