US home sales, prices to slip further this year--NAR

WASHINGTON, June 6 (Reuters) - The pace of U.S. home sales and prices will fall further in 2007 than originally expected, a leading realty trade association predicted on Wednesday.

The National Association of Realtors trimmed its sales forecast for the fourth straight month and also expanded the speed at which sales prices would drop.

Existing-home sales should hit a pace of 6.18 million units this year, down from the 6.29 million units it predicted last month.

The national median sales price for existing homes should ease by 1.3 percent to $219,000 this year. Last month, the trade group said prices should slip 1 percent.