NAR lowers 2008 price forecast

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.

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