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Pending home sales are on an upward trend, which has been uneven but meaningful since reaching a cyclical low last April, and are well above a year ago, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 2.0 percent to 97.0 in January from a downwardly revised 95.1 in December and is 8.0 percent higher than January 2011 when it was 89.8. The data reflects contracts but not closings. The January index is the highest since April 2010 when it reached 111.3 as buyers were rushing to take advantage of the home buyer tax credit.

In response to the overwhelming number of leading real estate firms participating in its 24th Annual Power Broker Survey, RISMedia has extended the survey deadline until Friday, March 2. To take the survey now, click here. Distributed through RISMedia’s multimedia information-delivery channels, the Power Broker Report is read by more than 300,000 real estate professionals and thousands of leading corporate relocation decision makers. The report is also accessible to millions of interested consumers.

(MCT)—The regulator for Fannie Mae and Freddie Mac wants to shrink the seized housing-finance giants gradually and create a new market for mortgage-backed securities to help the private sector. The recommendations came in a new strategic plan for Fannie and Freddie submitted to lawmakers Tuesday by the Federal Housing Finance Agency, which has overseen the companies since they were put into government conservatorship in 2008 to avoid their failure. Fannie and Freddie have almost single-handedly kept the housing finance market afloat in recent years.

Federal Housing Finance Agency (FHFA) Acting Director Edward J. DeMarco recently sent to Congress a strategic plan for the next phase of the conservatorships of Fannie Mae and Freddie Mac (the Enterprises). The plan builds on the Acting Director’s February 2010 letter to Congress on the conservatorships and sets forth objectives and steps FHFA is taking or will take to meet FHFA’s obligations as conservator. Fannie Mae and Freddie Mac were placed into conservatorships Sept. 6, 2008 and have since received more than $180 billion in taxpayer support.

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.

(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.

As the February 24th deadline approaches for completing RISMedia’s 24th Annual Power Broker Survey, hundreds of leading real estate firms have already submitted their surveys, ensuring their spot in the preeminent ranking of the industry’s top residential real estate brokerages. To take the survey now, click here. Survey respondents to date represent leading franchise brands and independent real estate brokerages from across the country. Among the top firms who have already completed this year’s survey are: RE/MAX Alliance - Colorado Houlihan Lawrence - New York State

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,

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.

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.”

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 Federal Housing Administration’s (FHA) rehabilitation loan program, commonly known as 203(k), can be a valuable tool to help deal with the REO problems faced by communities across the nation. The program works by providing the buyer with funding to purchase a property and rehabilitate it through one program. Essentially, one borrows money that exceeds the purchase price based on the agreement that certain improvements will be made that will add to the value of the property. For example, one buys a house with a price of $100,000 and agrees to make $40,000 in improvements.

Are you the type of individual who values sincere feedback and welcomes constructive criticism from customers, associates, and family members? Sometimes getting feedback can be an unpleasant experience, especially when it hasn't been requested. Without timely feedback, it's utterly impossible for a person to accurately identify his or her shortcomings, correct bad habits, and profit from mistakes. I can't think of any professional athlete or top-producing sales rep who have become successful by avoiding critical feedback. In fact, even the greatest professional golfer in the world, Tiger Woods, understands the value of seeking out advice on club selection from his caddy

Technology has literally changed the face of the real estate world in recent years. Real estate has transitioned from an industrial society to a digital information society, and is in a state known as the “Perfect Storm.” There are several factors that contribute to this concept. Consumers today have access to almost anything they need online. And as more and more information permanently transitions to the Web, so have real estate consumer expectations.

Mortgage Bankers Association says deal can help consumer confidence and stabilize markets (RISMedia/MCT)— After more than a year of negotiations, the nation’s biggest banks, states attorneys general and federal officials have announced the largest housing settlement ever—more than $26 billion—over foreclosure practices. The deal is expected to offer relief to more than one million U.S. homeowners who are having trouble paying their mortgages or have lost their homes to foreclosure.