The last couple of months have not brought good news for residential home sales.
Existing home sales in the U.S. declined in January, according to a report from the National Association of Realtors. Data from NAR shows completed transactions in January declined 3.2 percent from December 2017.
Sales also fell in December, which several experts attributed to extreme winter weather in various parts of the nation. But the persistent lack of supply is also a factor.