Pending home sales fell to record low in January

Pending sales of existing homes in the US fell in January to a record low as buyers remained unmotivated by lower mortgage rates and slower price increases. 

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An index of contract signings fell 0.8% last month to the lowest level in data from 2001, following a revised 7.4% decline in December, according to National Association of Realtors figures released Thursday. The median…