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Home sales fall 0.6 percent in March

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(Read caption) The National Association of Realtors Existing Home Sales Report for March showing total home sales declining 0.6 percent since February.

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Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for March showing a decrease in sales with total home sales declining 0.6% since February but still climbing 10.3% above the level seen in March 2012. 

Single family home sales also declined falling 0.2% from February but still rose 9.1% above the level seen in March 2012 while the median selling price increased a notable 12.1% above the level seen a year earlier. 

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Inventory of single family homes increased from February to 1.69 million units dropping 16.3% below the level seen in March 2012 which, along with the sales pace, resulted in a monthly supply of 4.7 months. 

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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.