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Jan existing home sales -1.2% to 4.94m......>

US DATA
US DATA: Jan existing home sales -1.2% to 4.94m saar (-8.5% y/y) vs 5.00m
consensus. Dec rev up to 5.00m. 
- Jan sales are the slowest since Jan 2015, but NAR said the decline is modest
and may have been impacted by very cold weather, especially in the Midwest
- This puts sales well below the Q4 avg of 5.14m when annual revisions are
included, a slowdown that was suggested by an MNI analysis on Wednesday.
- Jan data shows an increase in home supply as sales declined. The median sales
price -2.9% m/m and only +2.8% y/y, the slowest 12-mo gain since Feb 2012.
- Single-family sales declined, while condo sales rose.

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