Thursday, March 21, 2013

Existing Home Sales Report: February 2013

Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for February showing an increase in sales with total home sales rising 0.8% since January climbing 10.2% above the level seen in February 2012.

Single family home sales, on the other hand, declined falling 0.2% from January but still rose 8.7% above the level seen in February 2012 while the median selling price increased a notable 11.3% above the level seen a year earlier.

Inventory of single family homes increased from January to 1.68 million units dropping 19.2% below the level seen in February 2012 which, along with the sales pace, resulted in a monthly supply of 4.6 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.