The National Association of Realtors said that existing U.S. home sales fell to a seasonally adjusted annual rate of 4 million properties last month, which is the slowest annual pace since October 2010
The nation’s housing slump deepened in January as home sales fell for the 12th consecutive month to the slowest pace in more than a dozen years.
January’s sales cratered by nearly 37 per cent from a year earlier and slipped 0.7 per cent from December. Economists had projected a modest monthly rise in sales, according to FactSet.The median U.S. home price edged up 1.3 per cent from January last year to $359,000. That’s the slowest annual increase in home prices since February 2012. The median home price is down around 13 per cent since it peaked in June last year.
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