There's lot of house-hunting going on around Cape Girardeau, Jackson and Scott City this year.

Steady mortgage rates have helped boost real estate sales throughout the area during the first nine months of 1996.

Housing, both on the local and national levels, remains a bright spot in the economy.

Given that mortgage rates appear to have peaked and leveled off, residential sales have been good for new and existing housing, say area realtors.

Commercial activity is big again this year, and residential real estate sales usual follow the commercial activity.

A total of 560 pieces of property were sold during the first nine months of 1996, for a combined total of $50.2 million, an average of $89,611, according to the Cape Girardeau Multi-List Service Inc., which keeps tabs on property sales in an area that includes Cape Girardeau County and parts of Scott, Perry and Bollinger counties.

"These totals are up from 1995 totals for the same period," said Linda Pruitt of the multi-list service.

Properties sold are up only four percent -- from 533 properties to 560 -- but total dollar sales are up more than 15 percent, from $42.8 million a year ago, to $50.2 million in 1996. The average sale per property is up to $89,611, compared to $80,987 last year.

But all totals are down from the record year of 1994, when 837 pieces of property were sold, for a combined total of more than $63 million.

"Actually, 1995 wasn't a bad year, but it was down from 1994," said Martha Hamilton, owner/broker at Coldwell Banker Hamilton Realty, which has offices at Jackson and Cape Girardeau. "But 1996 totals now are well over last year's totals."

"Sales of existing homes and construction of new homes are up," she said. "Our company sales are substantially up over last year."

Hamilton said the average price home in Cape Girardeau was about $92,200, up from the $86,600 average in 1995.

"The average price home as increased much more in Jackson," said Hamilton. "A year ago, the Jackson average was aboaut $82,900. This year, it has jumped to $96,400."

The amount of new construction in Jackson has led to this, said Gene Mackey of Century 21 Dutch Realty.

"Right now, construction work is going on at 13 subdivisions in Jackson. You can find house prices from $75,000 to $300,000."

Dutch Realty, like Hamilton, is experiencing good sales.

"We're a growing company," said Mackey. "Our sales during the first nine months of 1996 are double 1995 sales."

And, they could be more if the capital gains tax were lowered.

"We have a lot of people who would like to downsize," said Mackey. "Their children have left and they want to get into smaller homes. But, they would take a big hit on capital gains by selling their house."

Home buyers have a wide selection of mortgage rates, depending on points and adjustables.

They range from 8.2 to 8.7 percent on 30-year, fixed with no points.

And, lower rates are available with the adjustable mortgages.

Realtors say adjustable rates today area better than in past year.

Three to five-year adjustables are available, and they all have caps for each adjustable period.

With the lower rates, the monthly payment has decreased.

First-time buyers who were priced out a year ago are now finding they can the make the stretch.

A comparison reveals that a $100,000 mortgage with a 7.5 percent interest rate would be about $699, compared to $805 for the same loan at a 9 percent rate.

Realtors are seeing a flurry of interest now, with many inquiries during the third quarter. A total of 208 pieces of property were sold during the July, August and September quarter, for a combined total of $19.1 million.

New-home construction continues at a good level this year.

Home construction was down in 1995 in Cape Girardeau, with less than 60 new starts. Permits for 50 new starts through September of 1996 have been issued. Eleven permits were issued during the same period for duplex housing.

In Jackson, which has experienced a home-building explosion over the past two years -- 206 new homes in 1994 and 151 in 1995 -- the boom continues. More than 65 permits were issued through the first six months of 1996.

September totals boosted total construction in Cape Girardeau past the $37 million mark this year.

The city has issued 376 permits through the first three quarters, ending Sept. 30, in the amount $37,263,916, about $1,000 over the $37,263,00 for the same period in 1995.

Major September permits included $3 million for Sam's Club; $1.6 million Alliance Blue Cross Blue Shield building; $1.4 million for the D&K Wholesale Drug warehouse, and more than a millions in home-building permits.

These permit totals do not include one of the largest construction projects in the Southeast Missouri area, The $50.5 million contract for the Emerson Memorial Bridge to connect Missouri and Illinois at Cape Girardeau. Initial construction on coffer dam work started recently.