Home Prices Expected To Fall

Home Prices are expected to fall for the first time since The National Association Of Realtors began keeping records 40 years ago. With home affordability at an all time low this was not unexpected. Maybe we will finally get back to some sanity in the housing market

The National Association of Realtors said Wednesday it expects its measure of home prices to fall this year for the first time since the group began keeping track nearly 40 years ago.

In its latest monthly forecast, the real estate group said it expects a 0.7 percent decline in the median price of an existing home sold in 2007. A month ago it had been projecting a 1.2 percent increase. Half of all homes sell for more than the median and half for less.

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