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Existing home sales climb in September

Home sales in the US rose 2.1 percent since September and climbed 10.9 percent above the level seen in October 2011. 

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This chart shows the number of existing single family homes sold monthly over the past five years. Sales have increased steadily since the beginning of 2011 and climbed over 2 percent in October 2012.

Yesterday, the National Association of Realtors (NAR) released their Existing Home Sales Report for October showing a increase in sales with total home sales rising 2.1% since September and climbing 10.9% above the level seen in October 2011. 

Single family home sales also rose climbing 1.9% from September rising 9.6% above the level seen in October 2011 while the median selling price declined slightly on the month but increased 10.9% above the level seen a year earlier. 

Inventory of single family homes went flat from September at 1.89 million units dropping 20.9% below the level seen in October 2011 which, along with the sales pace, resulted in a fairly balanced monthly supply of 5.4 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. 

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