Existing home sales on the rise
Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for April聽 showing an increase in sales with total home sales climbing 3.4% since March rising 10% above the level seen in April 2011.
Single family home sales also improved rising 3.0% from March and 9.9% above the level seen in April 2011 while the median selling price increased 10.4% above the level seen in April 2011.
Inventory of single family homes increased 10.9% from March dropping 18.8% below the level seen in April 2011 which, along with the sales pace, resulted in a monthly supply of 6.6 months.
The following charts (click for full-screen dynamic version) shows national existing single family home sales, median home prices, inventory and months of supply since 2005.
