<b>Home-price forecast: 1st ever decline
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Home-price forecast: First ever decline
National Association of Realtors cuts 2007 forecast; would mark first drop since it began tracking values in 1968.
NEW YORK (CNNMoney.com) -- Home prices are expected to finish down for the year, the National Association of Realtors (NAR) said Tuesday, which would mark the first drop since the group started tracking values in 1968.
NAR projects a 1 percent decline in the median price of an existing single-family home, to $219,800.
The number of home sales is also expected to dip from 6.48 million in 2006 to 6.29 million in 2007, a drop of 2.7 percent.
Prices of new home, at a median of $246,400, are expected to remain steady.
According to Walter Molony, a spokesman for NAR, the statistics may exaggerate the drop a bit because sales have slowed more in high-priced areas than in moderately-priced ones.
http://money.cnn.com/2007/05/08/real_estate/home_prices_to_dip/index.htm?postversion=2007050810
National Association of Realtors cuts 2007 forecast; would mark first drop since it began tracking values in 1968.
NEW YORK (CNNMoney.com) -- Home prices are expected to finish down for the year, the National Association of Realtors (NAR) said Tuesday, which would mark the first drop since the group started tracking values in 1968.
NAR projects a 1 percent decline in the median price of an existing single-family home, to $219,800.
The number of home sales is also expected to dip from 6.48 million in 2006 to 6.29 million in 2007, a drop of 2.7 percent.
Prices of new home, at a median of $246,400, are expected to remain steady.
According to Walter Molony, a spokesman for NAR, the statistics may exaggerate the drop a bit because sales have slowed more in high-priced areas than in moderately-priced ones.
http://money.cnn.com/2007/05/08/real_estate/home_prices_to_dip/index.htm?postversion=2007050810
작성일2007-05-08 07:30
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