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Existing home prices hit record

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Existing home sales hit a record in May, according to the National Association of Realtors.

The median existing-home price was up nearly 15% to $407,600 compared with a year earlier.

In May, existing home sales amount to a seasonally adjusted annual rate of 5.4 million, down from 5.9 million in the same month of 2021.

Read more from Forbes.

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