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Home selling

US home sales plunge 4.9 per cent in January

US home sales drop 4.9 pct. in January; job growth and low mortgage rates fail to spur buying
Josh Boak, The Associated Press

WASHINGTON - U.S. home sales struck a snow drift in January, plunging to the slowest pace in nine months.

The National Association of Realtors said Monday that sales of existing homes tumbled 4.9 per cent last month to a seasonally adjusted annual rate of 4.82 million. That brings sales down to their lowest level since April 2014.

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