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Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for March, showing weak sales. Total home sales fell 0.2% since February, dropping 7.5% below the level seen in March 2013.

Single family home sales also remained weak, with sales staying flat from February, and falling a notable 7.3% below the level seen in March 2013. The median selling price increased 7.4% above the level seen a year earlier.

Inventory of single family homes increased from February to 1.74 million units, and climbed 5.5% above the level seen in March 2013. Along with the sales pace, this resulted in a monthly supply of 6.1 months.

The following charts show national existing single family home sales, median home prices, inventory and months of supply since 2005.

Source: Existing Home Sales Report: March 2014