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Existing homes sales declined 5.3% in January, while the median price of a home fell 15% from the same month last year, the National Association of Realtors said Monday.

°®¶¹´«Ã½ sales fell to an annual rate of 4.49 million homes, NAR said.

Economists had forecast home resales would rise to an annual rate of 4.79 million, Bloomberg reported.