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Home sales climb in January

Home sales rose 0.4 percent in January 2013 and climbed 9.1 percent above the home sales level seen a year ago.

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Home sales climbing 0.4 percent since December 2012, according to the National Association of Realtors' Existing Home Sales Report.

Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for January showing a slight monthly improvement in sales with total home sales climbing 0.4% since December and climbing 9.1% above the level seen in January 2012. 

Single family home sales also improved slightly rising 0.2% from December and still rising 8.5% above the level seen in January 2012 while the median selling price increased a notable 12.6% above the level seen a year earlier. 

Inventory of single family homes declined notably from December to 1.55 million units dropping 25.5% below the level seen in January 2012 which, along with the sales pace, resulted in a monthly supply of 4.3 months. 

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