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At the end of 2012, a number of tax and spending policies are scheduled to change. Taken together, these changes may exert a strong fiscal drag on an already fragile macroeconomic environment depending on the actions of Congress. Federal Reserve Chairman Ben Bernanke calls this the “fiscal cliff.” Tax policy analysts call it “taxaggedon.” Regardless of its name, it represents the next dramatic policy deadline in Washington. Under present law, in 2013 the 2001/2003 tax cuts expire, the payroll tax cut expires, extended unemployment benefits end, and federal government spending levels decline due to last summer’s Budget Control Act.

Nationwide housing affordability hit a new record high for a second consecutive quarter in the first three months of this year, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). Yet tight lending conditions continue to pose a major obstacle to many prospective home buyers. The latest HOI data reveal that 77.5 percent of all new and existing homes that were sold in this year’s first quarter were affordable to families earning the national median income of $65,000. This beats the previous record set in the final quarter of 2011, when 75.9 percent of homes sold were affordable to median-income earners.

The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months

Existing-home sales rose in April and remain above a year ago, while home prices continued to rise, according to the National Association of Realtors®. The improvements in sales and prices were broad based across all regions. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 3.4 percent to a seasonally adjusted annual rate of 4.62 million in April from a downwardly revised 4.47 million in March, and are 10.0 percent higher than the 4.20 million-unit level in April 2011.

As we move through the second quarter of 2012, the year continues to pose a challenge for brokers. However, this year, there are several positive signs that indicate the worst is behind us and new opportunity lies just ahead.

The next two decades in housing markets depends largely on the Echo Boomers. That's according to panelists at the "Shifting Demographics and Housing Choice: A Whole New World?" session held recently during the REALTORS® 2012 Midyear Legislative Meetings & Trade Expo. There are approximately 62 million echo boomers in the U.S. Also called "millennials," echo boomers are currently ages 17-31. According to the 2011 National Association of Realtors® Profile of Home Buyers and Sellers, younger home buyers—those ages 18-34—represent 31 percent of all recent home purchases. "We know that although many young people may be delaying home purchases in today's economic climate,

REGIONAL SPOTLIGHT—The Southeast region of the U.S. is continuously thriving as a great place for Real Estate transactions and business. With many of this year’s top markets to watch residing in the Southeast, buyers are eager to seize

First quarter 2012 commercial and multifamily mortgage loan originations were 36 percent higher than during the same period last year and 12 percent lower than the fourth quarter of 2011, according to the Mortgage Bankers Association’s (MBA)

The future of housing finance in the U.S. will be a key issue facing the winner of the upcoming presidential election. That's what a panel of industry experts told several thousand Realtors® gathered at a symposium, Housing Policy in 2013: Challenges, Opportunities and Solutions, during the REALTORS® Midyear Legislative Meetings & Trade Expo this week. The National Association of Realtors® supports a comprehensive reform strategy for the secondary mortgage market to help maintain a level of certainty in the marketplace and not further disrupt the still fragile housing market recovery.

Builder confidence in the market for newly built, single-family homes gained five points in May from a downwardly revised reading in the previous month to reach a level of 29 on the National Association of Home Builders/Wells Fargo

With the recession technically over, many questions have circulated about the future of housing and whether the concept of homeownership will forever be changed in the United States. Well-known psychotherapist, Dr. Robi Ludwig

Median existing single-family home prices are firming in many metropolitan areas, while improving sales and declining inventory are creating more balanced conditions, according to the latest quarterly report by the National Association of Realtors®. The median existing single-family home price rose in 74 out of 146 metropolitan statistical areas (MSAs) based on closings in the first quarter from the same quarter in 2011, while 72 areas had price declines. In the fourth quarter of 2011 only 29 areas were showing gains from a year earlier.

The income and business of Realtors® is growing after many years of decline, according to the 2012 National Association of Realtors® Member Profile.

The new year opened with hope that the 3 percent growth rate of Gross Domestic Product (GDP) reported for the end of 2011 would lead to stronger job growth and improving housing markets. While January and February offered positive economic news, March and April reporting suggested that unusually warm weather may have accelerated some economic activity at the expense of the spring months. Overall, first-quarter GDP grew at a subpar, seasonally adjusted annual rate of 2.2 percent. Declining growth in inventory investment and weak nonresidential investment were the primary reasons. Increases in inventory investment boosted GDP growth at the end of 2011 by 1.8 percentage points.

Builder confidence in the 55+ housing market for single-family homes had a significant increase in the first quarter of 2012 compared to the same period a year ago, according to the latest National Association of Home Builders’ (NAHB) 55+