Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for January showing an increase in sales with total home sales climbing 5.0% since November and 3.6% above the level seen in December 2010.Single family home sales increased 3.8% from December and rose 2.3% above the level seen in January 2011 while the median selling price declined 2.6% below the level seen in January 2011.
Inventory of single family homes increased 1.5% from December dropping 18.9% below the level seen in January 2011 which resulted in a monthly supply of 6.1 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.