Tuesday, February 23, 2016

Existing Home Sales Report: January 2016

Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for January showing increasing sales with total home sales rising 0.4% since December and climbing 11.0% above the level seen in January 2015.

Single family home sales also increased with sales climbing 1.0% from December and rising 11.2% above the level seen in January 2015 while the median selling price increased 8.3% above the level seen a year earlier.

Inventory of single family homes increased, rising 4.5% from December  to 1.62 million units, falling 3.0% below the level seen in January 2015 which, along with the sales pace, resulted in a notably tight monthly supply of 4.0 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.