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The 2012 outlook is improving modestly from a disappointing 2011. Economic growth picked up in the fourth quarter of 2011 to 2.8 percent and is expected to come in at 2.3 percent for 2012, up from 1.6 percent growth for all of last year, according to Fannie Mae’s (FNMA/OTC) Economic & Strategic Research Group. However, the year-end growth rate was due largely to a positive swing in business inventory growth, which is not indicative of underlying consumer demand or the overall health of the economy. Nevertheless, consumer spending improved modestly and manufacturing and services activity expanded at a strong pace.

Finding a new place to live just became easier for consumers—who can now browse homes on their smartphones. The Real Estate Book recently launched an additional mobile tool—a free Android app to make looking through photos, maps,

(MCT)—Residential contractors are hoping that tight-fisted consumers will decide they need a new bathroom. Or maybe it’s time for those old kitchen counters to go. Perhaps it would be better to add another bedroom than move? After three years of slumping business, builders anticipate that the home remodeling and improvement sector will pick up in 2012.

While delinquencies and defaults slowly improve in the housing economy as a whole, FHA’s portfolio has not shared the same good fortune, creating increased pressure on the agency to reduce risk and increase costs to its borrowers,

Federal Reserve Chairman Ben S. Bernanke made the following speech at the 2012 National Association of Homebuilders International Builders' Show, held in Orlando, Fla. on February 10. Housing Markets in Transition The economic recovery began more than two years ago, but it doesn't feel like much of a recovery for many Americans—certainly for those of you who depend on the housing sector for your living, as well as for the millions of others who have seen their home values plummet or lost their homes through foreclosure. Though some progress has been made in reversing the losses in jobs and income sustained during the recession,

Freddie Mac (OTC: FMCC) recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates unchanged amid mixed consumer sentiment data. The average 30-year fixed-rate mortgage

As of February 10, new listings tracked by Altos Research have ticked upwards for five consecutive weeks, suggesting the spring home buyer season will bring the strongest prices the nation has seen since the tax credit briefly stimulated demand two years ago. At the end of January, most metro markets saw stable pricing and several are ticking up, as inventory dropped for the beginning of the year. Stable pricing in January, when prices can be expected to seasonally drop, points to a bullish start in the New Year, Altos notes. At the end of January, the national median home price as measured by the Altos 20-City Composite remained basically unchanged at $354,408 from $354,896 in December 2011. Altos Research uses metrics from active residential property listings.

In the fourth quarter of 2011, fixed-rate loans accounted for more than 95 percent of refinance loans, based on the Freddie Mac (OTC: FMCC) Quarterly Product Transition Report released recently. Refinancing borrowers clearly preferred fixed-rate loans,

Home builder confidence in the market for new single-family homes increased for the fifth consecutive month in February, rising from 25 to 29 on the NAHB/Wells Fargo Housing Market Index (HMI) released today. It is the highest level the index has reached in more than four years. “Builder confidence has doubled since September as measured by the HMI,” says NAHB Chairman Barry Rutenberg, a home builder from Gainesville, Fla. “Given the recent improvements in new home starts and the increasing number of markets included in the NAHB/First American Improving Markets Index, this consistency suggests that the housing market is moving toward more sustainable growth.”

Members of the National Association of Home Builders (NAHB) elected four Senior Officers to top leadership positions within the federation during the association’s International Builders’ Show in Orlando, Fla.

Headlines were made when Facebook announced its plans to go public, creating a new generation of Facebook millionaires. Many have been speculating about what these fresh-faced millionaires will do with their money. Others have been asking how they will affect the housing market. “It will be some time before the first Facebook shares are sold to the public, and even longer before Facebook’s employees are able to turn their paper wealth into cash and officially take their places as the newest members of the 1 percent. But the mere anticipation of the event

The sad news of Whitney Houston’s death this past Saturday sent shockwaves through the recording industry as well as her worldwide fan base, who adored the singer for her many gifts in acting, modeling and of course her unforgettable and unmatched vocal talents.

Homeowners are ready to make 2012 a banner year for remodeling and the latest cost-for-value research suggests that getting the most bang for every buck is more important than ever. The Remodeling Market Index (RMI) hit a five-year high at the end of 2011, indicating that residential remodeling should continue to grow in 2012, according to panelists at a press conference at NAHB’s International Builders’ Show. After a slow start, home improvement spending is expected to trend up later this year, according to the Leading Indicator of Remodeling Activity (LIRA)

U.S. Department of Housing and Urban Development Secretary Shaun Donovan recently awarded nearly $1.8 billion to public housing authorities in all 50 states, the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands.

REGIONAL SPOTLIGHT—Recent reports released by the Illinois Foreclosure Listing Service, ILFLS.com, show that Chicagoland foreclosure activity rose sharply during the last two months of 2011. This increase in the number of completed foreclosures