Realtors group predicts drop in existing home sales

WASHINGTON - A trade group for real estate agents lowered itsforecast of 2007 existing home sales for the seventh straight month,predicting a drop of 8.6 percent from last year.

The National Association of Realtors' revised monthly predictioncalls for U.S. existing home sales of 5.92 million in 2007, down from6.48 million last year.

The forecast was below last month's prediction of a 6.8 percentdrop.

This year's sales would be the lowest since 2002, when sales hit5.63 million. Home sale prices this year are forecast to drop 1.7percent to a median of $218,200.

Next year, the trade group expects existing home sales to climb to6.27 million. It forecasts …