Existing-Home Sales Come Up Short

Existing-home sales came up short in January, at their lowest in more than three years, the National Association of REALTORS® (NAR) reports. Sales decreased 3.2 percent to 5.38 million, a 4.8 percent decrease from one year prior.
Inventory, however, increased 4.1 percent to 1.52 million—but remains 9.5 percent lower than one year prior.“The utter lack of sufficient housing supply and its influence on higher home prices muted overall sales activity in much of the U.S. last month,&