Existing home sales down in February

Single family home sales declined 1.0 percent from January but rose 9.4 percent above the level seen in February 2011.

By , Guest blogger

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    This chart shows the number of annual existing home sales over the past five years. Sales have swung wildly over the last two years but failed to regain the 2009 peak.
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Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for February showing an decline in sales with total home sales falling 0.9% since January but climbing 8.8% above the level seen in February 2010.

Single family home sales declined 1.0% from January but rose 9.4% above the level seen in February 2011 while the median selling price increased 0.1% below the level seen in February 2011.

Inventory of single family homes increased 1.4% from January dropping 18.2% below the level seen in February 2011 which resulted in a monthly supply of 6.2 months.

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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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