1st QTR Real Estate Forecast

For the rest of 2005, existing home sales should ease 2.4 percent and median price gains should slow but still grow by 6.3 percent, according to NAR's latest monthly real estate forecast.

“This supply-demand imbalance is continuing to put pressure on home prices, but we should get closer to equilibrium by the end of the year,” says NAR's chief economist David Lereah.