Wednesday, July 20, 2011

Existing Home Sales Report: June 2011

Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for June showing continued weakness with slumping sales and an increasing monthly supply.

Single family home sales went unchanged from May falling 7.4% below the level seen last year while the median selling price increased a slight 0.6% above the level seen in June 2010.

Further, inventory of single family homes remains high climbing 5.9% from May and 0.1% above the level seen in June 2010 which, combined with the relatively slow pace of sales, resulted in an increase in the monthly supply to 9.4 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.