US: Existing home sales drop 1.2% in January

The monthly report published by the U.S. National Association of Realtors (NAR) on Thursday showed that existing home sales declined by 1.2% on a monthly basis in January and fell short of the analysts' estimate for an increase of 0.8%. With this fall, the total of sales edged down to 4.94 million from 5 million.

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