Existing Home Sales Report: August 2011

Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for August showing a notable rise in sales with total home sales jumping 7.7% since July and 18.6% above the level seen in August 2010.

Single family home sales climbed a notable 8.5% from July and rose 20.2% above the level seen in August 2010 while the median selling price declined 5.4% below the level seen in August 2010.

Inventory of single family homes went flat from July dropping 11.8% below the level seen in August 2010 which, combined with the relatively slow pace of sales, resulted in an still elevated monthly supply of 8.3 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.