March 1, 2011 in Business

Home sales contracts decline in January


WASHINGTON – Fewer Americans signed contracts to buy homes in January, the latest evidence that the housing market is struggling.

The National Association of Realtors says its index of sales agreements for previously occupied homes fell 2.8 percent last month to a reading of 89.9.

That’s higher than the 75.9 reading from June, the low point since the housing bust. But it’s below 100, which is considered a healthy level.

Sales of previously owned homes fell last year to the lowest level in 13 years.

Associated Press

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