National Summary (U.S.)
Existing-Home Sales Drop in January While Prices Continue to Grow
WASHINGTON (February 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.
Total existing-home sales which are completed transactions that include single-family homes town homes condominiums and co-ops dropped 5.1 percent to a seasonally adjusted annual rate of 4.62 million in January from 4.87 million in December and are also 5.1 percent below the 4.87 million-unit pace in January 2013. Last month level of activity was the slowest since July 2012 when it stood at 4.59 million.
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