There have been many conflicting reports about the future of the housing market in 2007.

There are those who say that the market will continue to slide, that the market will continue to be a buyer's market throughout most of the year.

And there are those experts who say that home sales will increase that with the national economy doing well and unemployment dropping to historical lows that real estate is in for another historic year in 2007.

Recently the National Association of Realtors forecasted that there will be an increase in existing home sales.

The forecast comes with reasoning that annual totals will be slightly lower than 2006 and the prediction that new home sales will continue to go by the way side.

Numbers that were released showed that NAR is anticipating that roughly three-quarters of the country will experience sluggish real estate expansion.

NAR's chief economist, David Lereah has said that the market across the nation will be sketchy, however he also said, "Most of the correction in home prices is behind us, but general gains in value next year will be modest by historical standards".

We will just have to wait and see what 2007 holds for the real estate market.