US Home Resales Fall Most in Four Years Despite Lower Rates (2)

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.

An extensive winter storm in late January that blanketed much of the US with snow and ice may have delayed many contract closings. In the hard-hit South, the nation’s biggest home-selling region, sales slumped 9% ...