“Gloomy” seems to be a pretty popular word in these stories on the NAR and Commerce Department reports.
The real estate trade group now expects existing home sales to fall 4.6 percent this year, worse than its previous forecast of a 2.9 percent drop. And the median price for a home is expected to fall by 1.3 percent this year — the first annual decline on record.
Remember these are U.S. numbers not Arizona numbers.
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