Existing Home Sales Decline

Existing homes sales fell to the lowest level in nine years in January, the National Association of Realtors said Monday.

Sales fell 0.4% to an annual rate of 4.89 million from a revised 4.91 million in December, NAR said.
 
Economists had forecast home resales would drop 1.8% to an annual rate of 4.8 million, Bloomberg reported.