US existing home sales drop to more than two-year low in January

WASHINGTON, Feb 12 (Reuters) - U.S. existing home sales tumbled to the lowest level in more than two years in January as falling inventory raised house prices. Home ‌sales dropped 8.4% last month to a seasonally adjusted annual rate of 3.91 ‌million units, the lowest level since December 2023, the National Association of Realtors said on Thursday. Economists polled by ​Reuters had forecast home resales declining to a rate of 4.18 million units. Last month's sales likely reflected contracts that were si ...