Home sales fall 0.6 percent in March
Home sales declined 0.6 percent in March according to the National Association of Realtors' Existing Home Sales report.
Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for March showing a decrease in sales with total home sales declining 0.6% since February but still climbing 10.3% above the level seen in March 2012.
Single family home sales also declined falling 0.2% from February but still rose 9.1% above the level seen in March 2012 while the median selling price increased a notable 12.1% above the level seen a year earlier.
Inventory of single family homes increased from February to 1.69 million units dropping 16.3% below the level seen in March 2012 which, along with the sales pace, resulted in a monthly supply of 4.7 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.