Existing home sales fall 3.2 percent in October

Existing home sales fell 3.2 percent since September but rose 6 percent above the level seen in October 2012. 

By , Guest blogger

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    This chart shows the monthly and annual change in single family home sales since 2007. Sales have fallen in recent months following two years of fairly consistent growth.
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Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for October showing decreased sales with total home sales falling 3.2% since September but rising 6% above the level seen in October 2012. 

Single family home sales also declined falling 4.1% from September but rising 5.2% above the level seen in October 2012 while the median selling price increased a notable 12.7% above the level seen a year earlier.

Inventory of single family homes declined from September to 1.88 million units but climbed 1.1% above the level seen in October 2012 which, along with the sales pace, resulted in a monthly supply of 5.0 months. 

Recommended: How savvy are you about real estate? Take our quiz.

The following charts (click for full-screen dynamic version) show national existing single family home sales, median home prices, inventory and months of supply since 2005. 

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