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flag U.S. existing-home sales hit their lowest since 2009, cooling the housing market significantly.

flag The U.S. housing market is cooling, with existing-home sales in May at their lowest since 2009, dropping 0.7% from a year ago. flag Home prices rose just 2.7% in April, the smallest gain in nearly two years, led by declines in previously hot markets like Tampa and Dallas. flag Higher mortgage rates and limited housing supply are key factors, pricing out many buyers and slowing market activity to about 25% below pre-pandemic levels.

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