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Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for November showing an increase in sales with total home sales climbing 4% since October and 12.2% above the level seen in November 2010.

Single family home sales increased 4.5% from October and rose 12.9% above the level seen in November 2010 while the median selling price declined 4.0% below the level seen in November 2010.

Inventory of single family homes declined 3.8% from October dropping 16.1% below the level seen in November 2010 which, combined with the relatively slow pace of sales, resulted in an still elevated monthly supply of 7.0 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.

Source: Existing Home Sales Increase In November