Investor's Business Daily - Stricter lending standards and fewer subprime loans will cause existing home sales to fall to 6.29 mil in '07 from 6.48 mil last year, the National Association of Realtors said. NAR in April saw 6.34 mil. The median existing-home price will fall 1% -- down from -0.7% -- to $219,800, the first drop in nearly 40 years of record-keeping. NAR sees new-home prices falling for the first time since '91 vs. its old target of a slim gain. New home sales will fall 18% to 864,000 vs. the old target of 904,000.
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