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Home sales up 7.8 percent in August

The National Association of Realtors' Existing Home Sales Report for August showed a notable increase in sales. Total home sales climbed 7.8 percent since July 2012, rising 9.3 percent above the level seen a year ago.

By Guest blogger / September 19, 2012

This chart shows national existing single family home sales since 2005. Single family home sales rose 8 percent from July 2012 and 10 percent above the level seen in August 2011.

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Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for August showing a notable increase in sales with total home sales climbing 7.8% since July rising 9.3% above the level seen in August 2011. 

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'SoldAtTheTop' is not a pessimist by nature but a true skeptic and realist who prefers solid and sustained evidence of fundamental economic recovery to 'Goldilocks,' 'Green Shoots,' 'Mustard Seeds,' and wholesale speculation.

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Single family home sales also improved rising 8.0% from July and 10.0% above the level seen in August 2011 while the median selling price went flat on the month but increased 10.2% above the level seen in August 2011. 

Inventory of single family homes increased 6.3% from July dropping 16.3% below the level seen in August 2011 which, along with the sales pace, resulted in a fairly balanced monthly supply of 6.2 months. 

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