By Lauren Baier Kim

Sales of existing homes dropped 1.3% in June, marking the eighth decline in 10 months and the inventory of unsold homes rose to a new record, according to the National Association of Realtors. The median selling price rose 0.9% to $231,000 from a year earlier, the smallest year-over-year gain since May 1995. A poll of real-estate agents conducted in June found that housing prices have weakened in 30 out of 42 metropolitan areas.

What to Do: If you're determined to sell, see seven tips to help you sell your home in a cooling market. Research your local market and visit open houses to size up your competition. Price competitively -- overpricing can be a turn-off. Ask your realtor for comparable sales information, or use online tools like Zillow.com or this tool from RealEstateJournal.com. Carefully choose which pricing tools you use -- some Web sites are referral tools for real-estate agents. Fix up your home's appearance -- upgrade curb appeal, get rid of clutter and use interior lighting. Take high-quality photos to place on home-listing Web sites.

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