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Homebuilder D.R. Horton is reporting losses for the fourth quarter of 2008, and for the year ending Sept. 30, 2008, as the company grapples with a marketplace where foreclosures and lagging consumer confidence are slowing new home sales. (DHI)

The inventory of homes for sale in California dropped sharply in October as the pace of sales picked up, a report said Tuesday.

The Federal Reserve's attempt to stabilize the housing market set off a chain reaction that dropped rates and spurred a burst of refinancing activity by borrowers eager to lower mortgage costs.

Apple REIT Cos. acquired the Hilton Garden Inn in Lewisville, TX, for $28 million, or $169,700 per room, from Gateway Hospitality Group. The six-story, 165-unit hotel at 785 State Highway 121 was built in 2006 on 8 acres. The 123,680-square-foot hospitality...

Western One acquired the Windsong Apartments in Dallas from developer Hall Financial Group for $13.1 million, or $49,600 per unit. The 264-unit, 203,656-square-foot multifamily community at 17717 Vail St. was built in 1985 in the Quorum/Bent Tree...

Hampton Inn purchased the 80-room hotel at 4340 W. Airport Freeway in Irving, TX, from Patiala Properties LP, for $8 million, or $100,000 per room. The cap rate was reported at 8.5 percent, based on an average occupancy of 75 percent. The four-story...

TriPro Capital Inc. acquired the McMillan Place Apartments in Dallas from Sterling Pointe Development Associates LP. The sale price was not disclosed but the property was on the market for $18.6 million. The 402-unit multifamily complex at 12610 Jupiter...

Salaries at Houston nonprofit organizations increased by an average of 3.9 percent so far this year, according to the United Way of Greater Houston’s Wage and Benefit Survey.

The American Institute of Architects is reporting that the Architecture Billings Index, which is compiled from a monthly survey of architecture firms around the country, is at its lowest level since the survey began in 1995.

Two real estate companies owned by Boca Raton developer Gregory K. Talbott filed for Chapter 11 protection on Nov. 26 in West Palm Beach to stop their foreclosure sales, set for next Monday.