Existing Home Sales Fall in January

Washington, DC, Feb. 23, 2015 — Home resales in January fell 4.9% to an annual rate of 4.82 million units, according to the National Association of Realtors.

That was the lowest annual rate in nine months, due largely to tight inventories. However, sales were up 3.2% from a year ago.

December’s number was revised up to 5.07 million units from a previously reported 5.04 million units.

Economists expected sales to fall to a 4.97-million unit pacein January.