This chart shows national existing single family home sales since 2005. Single family home sales rose 8 percent from July 2012 and 10 percent above the level seen in August 2011.

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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