NAR lowers 2008 price forecast

Real estate roundup

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.