Existing Home Sales Decline in January

Washington, DC, Feb. 21, 2014 -- Home resales fell 5.1% in January to a seasonally adjusted annual rate of 4.62 million, according to the National Association of Realtors.

That was the slowest pace since July 2012. Poor weather, low inventory and higher prices were blamed for the slowdown.

Economists had expected a January sales rate of 4.65 million.

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