U.S. home sales should "coast" at a somewhat lagging pace next year and prices should remain flat

Overall home price gains should be modest in 2007 while sales will hold steady, David Lereah, the association's chief economist said in a statement from the NAR annual meeting in New Orleans.

While some regions have seen a decline in home prices, the national median existing-home price should increase a modest 1.9 percent in 2006 to $223,700 and then 1.7 percent next year to $227,500, the statement said.

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