Today, the National Association of Realtors (NAR) released its 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. 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. That, along with the sales pace, resulted in a monthly supply of 4.6 months. The following charts shows national existing single-family home sales, median home prices, inventory, and months of supply since 2005.