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February 22, 2018

Home sales hit by biggest drop since summer 2014

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON — U.S. sales of existing homes fell in January from a year earlier by the most in more than three years. Would-be buyers were stymied by rising prices and a shortage of homes for sale.

The National Association of Realtors said Wednesday that sales dropped 3.2 percent from December to January, the second straight monthly decline, to a seasonally adjusted annual rate of 5.38 million. That was the slowest sales pace since September.


 
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