NAR: Existing-home sales slip 3.2 percent in January

Existing-home sales slumped for the second consecutive month in January, and experienced their largest decline on an annual basis over three years, according to the National Association of REALTORS (NAR). 

Total existing-home sales fell 3.2 percent in January to a seasonally adjusted annual rate of 5.38 million from a downwardly-revised 5.56 million in December 2017. Sales are 4.8 percent below a year ago, and at their slowest pace since last September. 

January existing-home sales in the Northeast declined 1.4 percent to an annual rate of 730,000, and are now 7.6 percent below a year ago. 

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