David Lereah, NAR chief economist, reports, "Home sales will move up and down somewhat over the remainder of the year, but stay at a high plateau, meaning this will be the third strongest year on record." The 30-year fixed-rate mortgage is expected to rise to 6.9 percent by the end of the year.

NAR continues, "Existing-home sales are projected to drop 6.0 percent to 6.65 million this year from a record 7.08 million in 2005. New-home sales are likely fall 10.9 percent to 1.14 million from the record 1.28 million last year -- both sectors would see the third best year following 2005 and 2004."

Buyers and sellers should expect the national average for homes to be $221,700. New homes cost only slightly more on average -- at the price of $242,700.

Read the whole story at http://realtytimes.com/rtcpages/20060413_mrktconditions.htm

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