Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for August showing a increase in sales with total home sales climbing 1.7% since July rising 13.2% above the level seen in August 2012.
Single family home sales also improved climbing 1.7% from July and rising 12.8% above the level seen in August 2012 while the median selling price increased a notable 14.4% above the level seen a year earlier.
Inventory of single family homes increased from July to 2.01 million units but still remained 5.6% below the level seen in August 2012 which, along with the sales pace, resulted in a monthly supply of 5.0 months.
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