Today, the National Association of Realtors released its Existing-Home Sales Report for January. It shows a slight monthly improvement in sales, with total home sales climbing 0.4% since December and going 9.1% above the level seen in January 2012. Single-family home sales also improved slightly, rising 0.2% from December and still going 8.5% above the level seen in January 2012. The median selling price increased a notable 12.6% above the level seen a year earlier.
Inventory of single-family homes declined notably from December to 1.55 million units, dropping 25.5% below the level seen in January 2012. That, along with the sales pace, resulted in a monthly supply of 4.3 months. The following charts show national existing-single-family home sales, median home prices, inventory, and months of supply since 2005.