WASHINGTON (AP) -- A real estate agents trade group says it thinks the housing market is on the verge of stabilizing.
The National Association of Realtors is lifting its outlook for this year and next.
It calls for U.S. existing home sales to drop 12.5 percent this year to the lowest level since 2002. The group calls for sales to rise slightly in 2008.
The realtors say the median price for U.S. existing homes will drop 1.9 this year and then rise 0.3 percent next year.
(Copyright 2007 by The Associated Press. All Rights Reserved.)
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to email@example.com. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.