Thursday, June 23, 2016

Existing Home Sales Report: May 2016

Yesterday, the National Association of Realtors (NAR) released their Existing Home Sales Report for May showing a notable increase with total home sales rising 1.8% since April climbing 4.5% above the level seen a year earlier.

Single family home sales also rose with sales climbing 1.9% from April rising 4.7% above the level seen a year earlier while the median selling price increased 4.6% over the same period.

Inventory of single family homes increased, rising 1.6% from April to 1.90 million units, falling 6.4% below the level seen in May 2015 which, along with the sales pace, resulted in a monthly supply of 4.7 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.



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