New home sales drop 4.4% in February

Model homes and for sale signs line the streets of a housing development in Zelienople, Pennsylvania, on March 18. New home sales in the U.S. fell 4.4% in February with bigger declines expected in coming months because of the ongoing coronavirus threat. Keith Srakocic/Associated Press

Hotel chain offers medical fi

rst responders free accommodations

A hotel chain is offering free lodging in the United States to physicians, nurses and other medical first responders helping in the fight against COVID-19.

The pandemic isn't the only time Tulsa World provides a valuable public service to our readers. Please consider supporting local journalism by subscribing today.

That offer was extended Tuesday by India-based OYO Hotels and Homes, which has 22 locations in the state, including seven in Tulsa.

“All of us at OYO are grateful for the bravery and sacrifices all the medical personnel are making to save lives and stop the spread of Covid-19,” Ritesh Agarwal, founder and group CEO of the company, said in a statement. “Our hearts go out to all those impacted by this terrible illness.”

The seven Tulsa locations included in the offer are Townhouse Tulsa Airport & Fairgrounds, 6730 E. Archer St.; Hotel Tulsa Route 66 West, 5828 W. Skelly Drive; OYO Townhouse Tulsa Woodland Hills, 8338 E. 61st St.; Hotel Tulsa International Airport, 1016 N. Garnett Road; Hotel Tulsa OK I-44/Route 66, 1011 S. Garnett Road; Hotel Tulsa North Sheridan Road & Airport, 35 S. Sheridan Road; and Hotel Tulsa Airport Memorial Drive, 8333 E. Admiral Place.

For a reservation, medical first responders should call 1-628-213-7020 (code: OYO4FIRSTRESPONDERS).

Arvest Bank to open mortgage center in Park Centre Building

Arvest Bank said Tuesday it is opening a mortgage production center in the Park Centre Building, 525 S. Main St.

The 10,000-square-foot space on the ninth floor will house mortgage loan originators and operational support staff, along with other associates. Operations are scheduled to begin April 1.

“We are privileged to serve a tremendous amount of families throughout our four-state footprint and providing our customers as many convenient options for their home loan needs is our goal,” Steven Plaisance, president and CEO of Arvest Bank’s Mortgage Division, said in a statement. “The production center will give us even more flexibility and help us be more proactive in meeting those needs.”

New home sales drop in February

WASHINGTON — U.S. new home sales fell 4.4% in February, with bigger declines expected in coming months as the coronavirus puts a major crimp on home sales.

The Commerce Department said Tuesday that February sales dropped to a seasonally adjusted annual rate of 765,000 homes, down from 800,000 homes in January. The January figure was revised up from an initial estimate of 764,000, but economists are warning that home sales, along with many other parts of the economy, are expected to take a big hit in the coming months due to the shutdowns that have occurred to try to limit the spread of the coronavirus.

The report showed that the median price for a home sold in February was $345,900, up 6.3% from a median price of $325,900 in January.

Subscribe to Daily Headlines

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

— From staff, wire reports