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With very low inventory levels in much of the country during the second quarter, existing-homes sales cooled and home prices rose robustly.
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Pending home sales increased in all four major regions in June, but overall activity lagged year ago levels for the sixth straight month.
Rising home prices and low inventory led to a decline in foreign home purchases in the United States.
Existing-home sales decreased for the third straight month in June, with declines in the South and West, and gains in the Northeast and Midwest.