Tuesday, April 22, 2014

Existing Home Sales Report: March 2014

Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for March showing weak sales with total home sales falling 0.2% since February dropping 7.5% below the level seen in March 2013.

Single family home sales also remained weak with sales staying flat from February and falling a notable 7.3% below the level seen in March 2013 while the median selling price increased 7.4% above the level seen a year earlier.

Inventory of single family homes increased from February to 1.74 million units and climbed 5.5% above the level seen in March 2013 which, along with the sales pace, resulted in a monthly supply of 6.1 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.