Today, the National Association of Realtors (NAR) released its existing-home sales report for April, which showed an increase in sales with total home sales rising 0.6% since March and climbing 9.7% above the level seen in April 2012. Single-family home sales also improved, climbing 1.2% from March and rising 9.0% above the level seen in April 2012. The median selling price increased a notable 11% above the level seen a year earlier.
Inventory of single-family homes increased from March to 1.92 million units, but still remained 11.9% below the level seen in April 2012. That, along with the sales pace, resulted in a monthly supply of 5.3 months. The following charts shows national existing single-family home sales, median home prices, inventory, and months of supply since 2005.