P.M. BRIEFING : Home Sales Down 7.4% in January
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WASHINGTON — Sales of existing homes fell 7.4% in January after a sharp jump in activity in December, a real estate trade group reported today.
The National Assn. of Realtors said existing single-family homes were sold at a seasonally adjusted annual rate of 3.63 million units in January after a 5.7% rise in December.
The decline in sales did not dampen prices. The median price of a home sold in January rose 3.2% from the December level to $91,500.
The January sales decline had been expected, given the level of activity in December, when homes were being sold at the fastest pace in two years.
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