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Realtors: Home price slump through '08

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Realtors: Home price slump through '08

 
Home prices are likely to end 2008 below last year's peaks as slump is now seen as worse than previously forecast.
 
-- Home values and housing sales will take an even bigger hit than previously forecast and will not recover to their earlier levels throughout all of 2008, at least, according to the latest economic outlook from the National Association of Realtors released Tuesday.

While the trade group sees gains in prices in 2008 from the current weak levels, it projects that the median existing home price will be $224,600 in the fourth quarter of next year. That would still put the price  slightly below the record price reading of $225,000 in the third quarter of last year.

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
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