Home sales up 7.8 percent in August
The National Association of Realtors' Existing Home Sales Report for August showed a notable increase in sales. Total home sales climbed 7.8 percent since July 2012, rising 9.3 percent above the level seen a year ago.
Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for August showing a notable increase in sales with total home sales climbing 7.8% since July rising 9.3% above the level seen in August 2011.
Single family home sales also improved rising 8.0% from July and 10.0% above the level seen in August 2011 while the median selling price went flat on the month but increased 10.2% above the level seen in August 2011.
Inventory of single family homes increased 6.3% from July dropping 16.3% below the level seen in August 2011 which, along with the sales pace, resulted in a fairly balanced monthly supply of 6.2 months.
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