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WASHINGTON (AP) - Sales of existing homes fell for a fifth consecutive month in January as the once-sizzling housing market cooled further.
The National Association of Realtors reported Tuesday that sales of previously owned homes dropped by 2.8 percent compared to a seasonally adjusted annual rate of 6.56 million units, the slowest pace in two years.
Even with the slowdown in sales, home prices held steady with the median price in January at $211,000, unchanged from the December level.
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