Today, the National Association of Realtors (NAR) released its Existing-Home Sales Report for March. It showed a decrease in sales, with total home sales declining 0.6% since February but still climbing 10.3% above the level seen in March 2012. Single-family home sales also declined, falling 0.2% from February but still rose 9.1% above the level seen in March 2012. The median selling price increased a notable 12.1% above the level seen a year earlier.
Inventory of single-family homes increased from February to 1.69 million units, dropping 16.3% below the level seen in March 2012. That, along with the sales pace, resulted in a monthly supply of 4.7 months. The following charts show national existing single-family home sales, median home prices, inventory, and months of supply since 2005.