When is the media going to get home sales right.

Today consumer survey shows buyers are in it for the long-haul, planning to stay in their home for a median of 10 years. This is a wise approach to housing because the longer you own, the better your investment.

New-home sales are projected at 773,000 for 2007, and declining to 669,000 this year before rising to 730,000 in 2009, but well below the 1.05 million 2006. With an appropriate slowdown in production, housing starts, including multifamily units, are forecast at 1.36 million for 2007 and 1.09 million this year before edging up to 1.10 million in 2009; starts totaled 1.80 million in 2006. The median new-home price should drop 2.1 percent to $241,400 for 2007, and then rise 0.4 percent to $242,200 this year and gain another 5.9 percent in 2009.

According to the latest forecast by the National Association of Realtors, America’s largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.

When is the media going to get it right.