The National Association of Realtors trade group has lowered its expectations for existing-home sales in 2006, according to an announcement today. Existing-home sales are expected to drop 5.7 percent this year compared to 2005, with a forecast of 6.67 million existing-home sales this year compared to a record 7.08 million existing-home sales last year. Meanwhile, the association has improved its forecast for new-home sales and housing starts since the previous forecast in February, though these categories are also projected to be lower this year than they were in 2006. New-home sales are forecast to fall 7.7 percent this year to 1.18 million from a record 1.28 million in 2005, the association reported, and housing starts are forecast to fall 4.3 percent this year to 1.98 million. In Febr...
Get Inman via Facebook Messenger
Our top headlines delivered once a day.