Sales of previously occupied U.S. homes fell in January as rising mortgage rates and prices put off many would-be homebuyers.

Home sales in January hit a seasonally adjusted rate of about 4.1 million – up 2 percent from the year before, marking the fourth consecutive month of year-over-year increases, according to a new report from the National Association of Realtors.

Sales of existing homes slipped 4.9% in January, but year-over-year sales were up 2% as high prices and mortgage rates keep some potential buyers on the sidelines, including first-time buyers. Existing home sales retreated in January,