Sales of Existing Homes Provide a Mixed View of Housing Market
According to the National Association of Realtors (NAR), existing home sales declined 4.9% over the month in January to a nine-month low of 4.82 million seasonally adjusted annualized units.
While the rate on a 30-year mortgage fell to a 20-month low of 3.71%, limited inventory has put upward pressure on home prices.