Existing home sales fell 5.1 percent since December and 5.1 percent below the level seen in January 2013.
Pending home sales took a huge dip in December, falling 8.7 percent from November and 8.8 percent below the level seen in December 2012.
Existing home sales fell 3.2 percent since September but rose 6 percent above the level seen in October 2012.
Weak housing numbers released this week have some analysts worried that the housing recovery is losing momentum. Personal income lags, durable goods fall, and Dunkin' Donuts gets in hot water for a 'blackface' ad campaign in Thailand.
Existing home sales leaped 6.5 percent in July, their highest level since last 2009 when a tax credit artificially boosted sales. But some analysts worry that rising interest rates and continuing low inventory could put a damper on existing home sales in the coming months.
President Obama had a chat on Zillow.com about housing issues Wednesday. He's trying to generate interest in the topic in D.C., but critics say he had other motives.