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Home prices hit record high

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The National Association of Realtors reported a new record for home prices.

The median price of an existing home sold in May was a record-high $419,300. That's up 5.8% year over year, according to the NAR.

The inventory of homes for sale in May was up 18.5% year over year and 6.7% month over month.

Read more from CNBC.

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