Bradenton Florida Real Estate News

Wednesday, May 09, 2007

Home-Price forecast: First ever decline

CNNMoney.com noted the National Association of Realtor's news release indicating the decline in home prices.

"National Association of Realtors cuts 2007 forecast; would mark first drop since it began tracking values in 1968."

"Home prices are expected to finish down for the year, the National Association of Realtors (NAR) said Tuesday, which would mark the first drop since the group started tracking values in 1968.

"NAR projects a 1 percent decline in the median price of an existing single-family home, to $219,800. The group, in a forecast made a month ago, had previously been expecting a 0.7 percent decline. Prior to that, it had expected a gain of 1.2 percent. "

Read the article here: http://tinyurl.com/35a253

Our Bradenton - Sarasota markets suffered an 18% decline in 2006 and that is continuing into 2007.

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Bradenton Real Estate

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