Contracts to buy previously owned U.S. homes fell to their lowest level in a year in January, likely weighed down by harsh weather and a shortage of properties for sale, a report showed on Monday. The National Association of Realtors said its pending home sales index declined 2.5 percent to 106.0, the lowest level since January of last year. Economists polled by Reuters had forecast contracts rising 0.5 percent last month.
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