Tuesday, December 23, 2014

Existing Home Sales Report: November 2014

Yesterday, the National Association of Realtors (NAR) released their Existing Home Sales Report for November showing weak sales with total home sales falling 6.1% since October but still climbing 2.1% above the level seen in November 2013.

Single family home sales also slumped with sales falling 6.3 from October but still climbing 2.4% above the level seen in November 2013 while the median selling price increased 5.6% above the level seen a year earlier.

Inventory of single family homes decreased from October to 1.86 million units but rose 1.6% above the level seen in November 2013 which, along with the sales pace, resulted in a monthly supply of 5.2 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.