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NAR: Existing-home sales drop in January nationally and in Northeast

Feb 21, 2014
Existing-home sales fell in January to the lowest level in a year-and-a-half, but ongoing inventory shortages continue to lift prices in much of the U.S., according to the National Association of REALTORS (NAR). 

Total existing-home sales, which include single-family townhomes, condominiums and co-ops, fell 5.1 percent to a seasonally adjusted annual rate of 4.62 million in January. January closings were 5.1 percent below the 4.87 million-unit pace of January 2013.

In the Northeast, existing-home sales declined 3.1 percent to an annual rate of 620,000 in January, which is 3.1 percent below January 2013. 

To read the entire NAR press release, click here.
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