Home building and home sales will continue to slacken for the rest of the year, according to the June forecast of the Mortgage Bankers Association.

The trade group sees second-quarter sales of existing homes falling 3.9% from the first-quarter level and projects further quarter-to-quarter declines of 2% in the third quarter and 1.7% in the fourth. In all, 3.93 million homes will be resold this year, a drop of 4% from last year's record sales, the MBA estimates.

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