NAR cutting their sales forecast ... again

Just FYI, the National Association of Realtors is cutting their 2007 and 2008 home sales forecasts ... again. As I chronicled a little while ago in this post, the chipper folks at the NAR have been hard at work slashing their expectations.

The group's 2007 forecast peaked at 6.44 million units in February. It then dropped to 6.42 million in March, 6.34 million in April, 6.29 million in May, 6.18 million in June, and now, 6.11 million in this just-released outlook. 2008 sales are now expected to be 6.37 million. That forecast has been cut four months in a row.