Home sales jump 12 percent, reach six-month high

Home sales rose 11.8 percent between November and December 2010.

By , Guest blogger

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    This graph shows single family home sales (blue line) compared to sales last year (red bar) since 2005. Sales rose 11.8 percent in December, continuing the five-month growing trend.
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Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for December showing a continued increase in sales coming in the wake of the now obviously phony baloney government tax gimmick sponsored surge in home sales activity seen earlier in 2010 and 2009.

Single family home sales increased 11.8% since November but remained 2.5% below the level seen last year while prices declined 0.2% since November and fell 0.18% below the level seen in December 2009.

Further, inventory remains high climbing 9.4% above the level seen in December 2009 which, combined with the relatively slow pace of sales, resulted in a monthly supply of 7.8.

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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.

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