Having hit a nine-year high in May, the National Association of Realtors Pending Home Sales Index slipped 1.6 percent in June.  The index, for which 100 denotes an average level of activity, currently measures 110.3 and remains 8.2 percent higher on a year-over-year basis (versus 10.7 percent higher last month).

The Pending Home Sales index for the West rose 0.5 percent in May to 104.4, up 10.4 percent versus the same time last year.

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