January home sales fall 7.2 percent

 The sales of previously owned homes slumped in January for the second month in a row, raising fresh concerns about the housing market's potential for rebound, according to industry statistics released on Friday.
Sales of existing houses, townhouses, condominiums and cooperatives fell 7.2 percent to a seasonally adjusted annual rate of 5.05 million in January from December, the National Association of Realtors reported.
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