Home Sales Settle as Appreciation Slows

By: Associated Press
By: Associated Press

A top real estate group believes that although the housing boom has faded, sales will continue to be healthy with price appreciation at more normal levels.

The National Association of Realtors is predicting that sales of previously-owned homes will drop nearly seven percent -- to a little over six-and-a-half (m) million this year. Record sales last year topped seven (m) million. NAR also is predicting a drop in new-home sales of almost 13 and-a-half percent.

As far as pricing is concerned, the realtors are forecasting an increase of five-point-three percent this year for all houses -- to 231-thousand-300 dollars.

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