Home prices will continue to fall.
Sales of resale single-family homes and condos and co-operatives are expected to drop 4.7 percent this year, to an annual total of 5.39 million sales, according to the Realtor group’s latest housing market forecast. That follows a 12.8 percent decline in 2007 and an 8.5 percent decline in 2006. New-home sales are expected to drop 25.7 percent this year, following a 26.3 percent decline last year and an 18.1 percent decline in 2006.