Real estate pros hope for tax credit extension

CNBC‘s Diana Olick attended the National Association of Realtors conference in Washington, D.C., this week. Shaun Donovan, housing and urban development secretary, said the Federal Housing Administration is aiming to provide more backup financing for homeowners. Real estate professionals also said they were hoping the first-time homebuyer tax credit could be extended to all homebuyers. Former Federal Reserve Chairman Alan Greenspan told conference attendees that the housing market is still hurting the economy, which is otherwise doing well.