NAR LOWERS FORECAST
May 8th, 2007
Citing tighter lending standards and subprime mortgage problems, the National Association of Realtors now says:
new home sales are likely to fall 18% to 864,000, compared with the prior forecast of a 14% drop…The national median existing-home price is forecast to slip 1.0% to $219,800 this year, and then rise 1.4% in 2008. The median new-home price is expected to be essentially unchanged at $246,400 in 2007, and then rise 2.2% next year.






