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.
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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.