Thursday, January 20, 2011

Existing Home Sales Report: December 2010

Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for December showing a continued increase in sales coming in the wake of the now obviously phony baloney government tax gimmick sponsored surge in home sales activity seen earlier in 2010 and 2009.

Single family home sales increased 11.8% since November but remained 2.5% below the level seen last year while prices declined 0.2% since November and fell 0.18% below the level seen in December 2009.

Further, inventory remains high climbing 9.4% above the level seen in December 2009 which, combined with the relatively slow pace of sales, resulted in a monthly supply of 7.8.

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.