The pace of existing-homes sales dropped in January to the slowest rate in more than a year, starting 2014 with a whimper, according to data released Friday.
Sales of existing homes fell 5.1% in January to a seasonally adjusted annual rate of 4.62 million, the slowest pace since July 2012, the National Association of Realtors reported Friday. Sales have trended down since the summer, hit by declining affordability and low inventory. Unusually poor weather may have also a played a role in January’s drop, NAR said.
Another poor set of data, for the housing and the US market in general.
Sales of existing homes fell 5.1% in January to a seasonally adjusted annual rate of 4.62 million, the slowest pace since July 2012, the National Association of Realtors reported Friday. Sales have trended down since the summer, hit by declining affordability and low inventory. Unusually poor weather may have also a played a role in January’s drop, NAR said.
Another poor set of data, for the housing and the US market in general.