Existing Home Sales Report: March 2012

Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for March  showing an decline in sales with total home sales falling 2.6% since February but climbing 5.2% above the level seen in March 2011.

Single family home sales declined 2.5% from February but rose 5.9% above the level seen in March 2011 while the median selling price increased 1.9% above the level seen in March 2011.

Inventory of single family homes increased 0.5% from February dropping 20.1% below the level seen in March 2011 which, along with the sales pace, resulted in a monthly supply of 6.3 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.