Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for June showing another notable pullback in sales coming in the wake of the phony baloney government sponsored surge in home sales activity seen in March and April.Single family home sales declined 5.62% since May but still remains 8.55% above the level seen last year while prices increased 1.26% over the same period.
It's important to note that inventory is continuing to mount with the latest level rising 5.9% above the level seen in June 2009 and resulting in a monthly supply of 8.7.
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.
