Existing home sales jump 4.3 percent in May

Existing home sales rose 4.2 percent in May and 12.9 percent above the level seen in May 2012. 

By , Guest blogger

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    This chart shows the monthly and annual change in existing single family home sales. Single family homes jumped 5 percent in May 2013.
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Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for May showing an increase in sales with total home sales rising a notable 4.2% since April and climbing 12.9% above the level seen in May 2012. 

Single family home sales also improved climbing a whopping 5.0% from April and rising 12.7% above the level seen in May 2012 while the median selling price increased a notable 15.8% above the level seen a year earlier. 

Inventory of single family homes increased from April to 1.98 million units but still remained 9.2% below the level seen in May 2012 which, along with the sales pace, resulted in a monthly supply of 5.2 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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