U.S. home resales fell sharply to their lowest level in nine months in January amid a shortage of properties on the market, a setback that could temper expectations for an acceleration in housing activity this year. The National Association of Realtors said on Monday existing home sales declined 4.9 percent to an annual rate of 4.82 million units, the lowest level since last April. “Existing home sales are taking a bumpy road towards recovery,” said Patrick Newport, an economist at IHS Global Insight in Lexington, Massachusetts.