Monthly sales of pre-owned homes fell to the lowest level in two years, while the annual rate was down from a year earlier by the most in three years.

The sale of 313,000 existing residential properties — including single family homes, townhomes, condominiums and co-operatives — were closed during January.

That turned out to be the lowest number of existing home sales since January 2016, when the total was previously reported at 302,000.

Source: Mortgage Daily