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Home sales climb in January

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

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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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