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On February 21, the National Association of Realtors released a report on January home prices and sales. Key findings include a 0.7% decrease in existing home sales compared to December, resulting in a seasonally adjusted annualized rate of 4 million homes sold, which is notably low. Additionally, year-over-year sales declined by 36.9%, dropping from 6.34 million to 4 million. The report highlights concerning trends in the housing market, indicating a significant slowdown in both sales volume and activity in January.
