NAR forecast: Resale home prices will fall 1.4% this year

Pending sales index drops 21% year-over-year in February

The median price of resale homes is expected to drop another 1.4 percent this year, equaling last year’s decline, the National Association of Realtors reported today in its latest housing market forecast. The median price of new homes is expected to drop 3.6 percent this year.