Summary Box: Signed home contracts fall in January

FEWER CONTRACTS: The National Association of Realtors says its index of sales agreements for previously occupied homes fell 2.8 percent last month to a reading of 88.9, the second straight monthly decline.

BELOW HEALTHY LEVEL: The reading was higher than the 75.9 reading from June, the low point since the housing bust. But it's below 100, which is considered a healthy level.

HOUSING MARKET STRUGGLES: Sales of previously owned homes fell last year to the lowest level in 13 years. Economists say it will be years before the housing market fully recovers.