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by CareyBot

The following is a real estate news roundup: NAR: Resale home price may fall 6.4% this year The median resale home price is expected to fall 6.4 percent this year, the National Association of Realtors reported today -- that drop is 4 percent larger than the group's previous forecast for a 2.4 percent decline, released in May. The Realtor trade group's latest forecast also anticipates a 4.5 percent annual drop in existing-home sales this year, followed by a 6.3 percent rise in sales in 2009. Single-family housing starts are expected to plunge 36.3 percent this year and another 1.8 percent in 2009, NAR reports, with the median new-home price dropping 3.1 percent this year. Pending sales index rises in West An index that gauges pending sales of resale homes fell 13.1 percent compa...