US Home Resales Fall Most in Four Years Despite Lower Rates

Sales of previously owned US homes fell in January by the most in nearly four years, a month marked by a massive winter storm.

Contract closings decreased 8.4%, the biggest drop since February 2022, to a 3.91 million annualized pace in January, according to National Association of Realtors data released Thursday. That trailed the median forecast of economists surveyed by Bloomberg.