Sales of existing U.S. homes unexpectedly fell in Jan.

U.S. HOME SALES GROWTH is limited by an acute shortage of inventory, which is pushing up home prices faster than wage growth. / BLOOMBERG FILE PHOTO/DERICK E. HINGLE
U.S. HOME SALES GROWTH is limited by an acute shortage of inventory, which is pushing up home prices faster than wage growth. / BLOOMBERG FILE PHOTO/DERICK E. HINGLE
NEW YORK - Sales of previously owned United States homes unexpectedly fell in January to a four-month low, indicating a shortage of available properties is increasingly hindering the real-estate industry, a National Association of Realtors report showed Wednesday. Highlights of existing-home sales (January) Contract closings fell 3.2 percent month to month to 5.38 million annual rate (est. 5.6…

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