Yesterday, the National Association of Realtors (NAR) released their Existing Home Sales Report for October showing a increase in sales with total home sales rising 2.1% since September and climbing 10.9% above the level seen in October 2011.
Single family home sales also rose climbing 1.9% from September rising 9.6% above the level seen in October 2011 while the median selling price declined slightly on the month but increased 10.9% above the level seen a year earlier.
Inventory of single family homes went flat from September at 1.89 million units dropping 20.9% below the level seen in October 2011 which, along with the sales pace, resulted in a fairly balanced monthly supply of 5.4 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.
