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local edition ANALYTICS 2012 was a strong year for Texas real estate. CoreLogic acquires CaseShiller from Fiserv. HAWAII // The Asian Real Estate Association of America (AREAA) wrapped up its annual Global Summit recently with greater confidence in the U.S. housing market and in opportunities to facilitate global real estate business. "We're very bullish on what we're seeing right now," said Jim Park, 2013 National AREAA chair. "The U.S. housing market is improving and there are real opportunities to strategically invest in real estate around the world. As the attendees of the Stifling Sales Residential transactions remained depressed in Massachusetts in March. Love in the Lone Star State Housing market picks up steam at the end of Q1. TEXAS // Texas' real estate market experienced a healthy first quarter, picking up right where 2012 left off, the Texas Association of Realtors revealed in its latest Quarterly Housing Report. According to the association, Q1's gains were fueled by surging demand for homes, which was in turn driven by population and job growth throughout the quarter. "2012 was a strong year for Texas real estate. and, based on these first-quarter results, 2013 The M Report | 65 se c on da r y m a r k e t Global leaders paying attention to the growth in the U.S. MASSACHUSETTS // While other states spent March gearing up for a busy spring season, Massachusetts saw a decline in sales throughout the month, the Boston-based Warren Group reported. Single-family home sales in the Bay State dropped 3.6 percent to 3,100 in March, down from 3,215 last year. It was the second consecutive monthly decrease in Massachusetts home sales. For the entire quarter, sales totaled 7,849, down 2.1 percent from 8,017 in 2012's first quarter. "Low inventory is plaguing housing markets all over the country, and Massachusetts is no exception," said David Harris, editorial director at the Warren Group. "With mortgage rates low and prices competitive, we're a na ly t ic s On the World's Stage Global Summit witnessed, the global and luxury segments of the market are ready for a steady expansion, particularly for the Asian-American consumers." This year's summit took place in Honolulu, Hawaii, and covered the latest updates on real estate trends and current conditions around the world with an emphasis on the Americas, Asia, and Europe. The turnout included attendees from 12 different countries, including China, Japan, Korea, France, Canada, Australia, and the United States. s e r v ic i ng CALIFORNIA // CoreLogic, a leading residential property information, analytics, and services provider headquartered in California, announced its acquisition of Case-Shiller from Fiserv, Inc. The acquisition closed March 20. In addition to offering the Case-Shiller Indexes, which will be renamed the CoreLogic Case-Shiller Indexes, CoreLogic will continue to offer its own Home Price Index (HPI), the company announced. The S&P/ Case-Shiller Home Price Indices will retain their brand name, and all reports will continue to be published and distributed on their customary time schedules and in their current formats. Dr. David Stiff, chief economist for Case-Shiller, will continue to supervise the preparation of the CoreLogic Case-Shiller Indexes and will comment on the findings of those indexes. Dr. Mark Fleming, chief economist for CoreLogic, will continue to supervise the preparation of the CoreLogic HPI reports and will comment on those. hopeful more sellers will emerge and the trend in dropping home sales will reverse." Still, the Warren Group pointed out, March home sales were the highest in any month so far this year. The median price for single-family homes sold in March rose more than 8 percent, reaching $285,000 from $263,000 a year earlier. According to the Warren Group, it was the sixth consecutive month that monthly home prices have increased year-over-year. The first-quarter median selling price was $282,500, a 10.6 percent increase from $255,500 in the same period in 2012. "It's clear that the low supply of homes for sale is continuing to pressure prices," Harris said. "And there is definitely concern that such steep price spikes will cause an affordability issue." Condominium sales statewide also dropped for the second straight month in March. Condo sales fell more than 2 percent to 1,211, the group reported. All told, 3,083 condo sales were recorded in the first quarter, a near 1 percent increase from 3,057 last year. The median price for condos sold in March was $261,000, up 1.5 percent year-over-year. The first-quarter median condo price was also up, rising 1.6 percent to $250,000. Or ig i nat ion Major Data Forces Combine