NAR drops expectations for home sales, prices

The National Association of Realtors is expecting total sales of resale homes this year to drop 11.4 percent compared to 2007 and the median price of resale homes to fall 7 percent -- both projections are down from an earlier forecast.

The association is calling for 5.01 million sales of resale homes this year, compared with 5.65 million in 2007 and 6.48 million in 2006.

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