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[Gene GeRue <genegerue AT ruralize.com>]

NAR President Thomas M. Stevens from Vienna, Va., 
said home prices are expected to cool, but not as 
much as in earlier projections. “Although housing 
inventories have been improving, the balance is 
still a bit more favorable for sellers and annual 
appreciation remains in double-digit territory,” 
said Stevens, senior vice president of NRT Inc. 
“Even so, the market is in a process of 
normalization – appreciation will return to 
normal single-digit patterns, providing solid 
investment returns into the future.”

The national median existing-home price for all 
housing types is likely to increase 6.4 percent 
this year to $221,700, while the median new-home 
price is expected to rise 2.3 percent to $242,700.

Full article at:
http://www.rismedia.com/index.php/article/articleview/14172/1/1/