Home sales are expected to slip but remain strong

After two straight years of record figures, home sales are projected to slip next year but remain strong, according to the National Assn. of Realtors.

NAR expects existing home sales to finish at 5.52 million units this year, a 4.2% increase over last year’s record 5.3 million units, according to NAR chief economist David Lereah, who said that next year’s sales should slow to 5.29 million units.

New-home sales are forecast to rise 5.6% to a record 960,000 units this year, then ease next year to 924,000, which would be the second highest on record.