By Andrew Khouri | Los Angeles Times
Sales of previously owned homes plunged in January as severe weather and high costs handcuffed would-be buyers.
Existing home sales tumbled 5.1% from December to a seasonally adjusted annual rate of 4.62 million, reaching the lowest level in more than a year, the National Assn. of Realtors said Friday. Sales also fell 5.1% from a year earlier.
Although harsh weather held back sales, the trade group said there was more behind the poor figures.