Wednesday, February 23, 2011

Existing Home Sales Report: January 2011

Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for January 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 2.4% since December rising 4.92% above the level seen last year while prices declined 2.7% below the level seen in January 2010.

Further, inventory remains high climbing 4.6% above the level seen in January 2010 which, combined with the relatively slow pace of sales, resulted in a monthly supply of 7.5.

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.