Mortgage industry troubles are expected to dampen existing-home sales in the short term, though a modest upswing is projected for the end of the year, the National Association of Realtors reported Wednesday.The trade group is forecasting that existing-home sales will total 6.04 million this year and 6.38 million in 2008. Both numbers fall below the 6.48 million recorded in 2006. New-home sales are also down. Some 852,000 units were sold in 2007, and 848,000 sales are projected for next year. That’s below the 1.05 million sold in 2006.Still, association senior economist Lawrence Yun said he expects more buyer demand and cutbacks in new construction to draw down inventory levels, ultimately leading to future price appreciation."With the population growing, the demand for homes isn’t going away — it’s just being delayed," Yun said.The median home price is expected to drop 1.2 percent in 2007 to $219,300 before climbing 2 percent next year to $223,600.

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