Home sales stay flat in June

Single family home sales did not change from May, but the inventory rose 5.9 percent

This chart shows existing single family home sales from November 2005 through June 2011. Sales in June were 7.4 percent below the level seen a year before.

Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for June showing continued weakness with slumping sales and an increasing monthly supply.

Single family home sales went unchanged from May falling 7.4% below the level seen last year while the median selling price increased a slight 0.6% above the level seen in June 2010.

Further, inventory of single family homes remains high climbing 5.9% from May and 0.1% above the level seen in June 2010 which, combined with the relatively slow pace of sales, resulted in an increase in the monthly supply to 9.4 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.

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