Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for August showing a notable increase in sales with total home sales climbing 7.8% since July rising 9.3% above the level seen in August 2011.
Single family home sales also improved rising 8.0% from July and 10.0% above the level seen in August 2011 while the median selling price went flat on the month but increased 10.2% above the level seen in August 2011.
Inventory of single family homes increased 6.3% from July dropping 16.3% below the level seen in
August 2011 which, along with the sales pace, resulted in a fairly balanced monthly supply of 6.2 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.