Existing Home Sales

Every month the National Association of Realtors publishes their Existing Home Sales Report. The data provides the most comprehensive insight into the level of sales activity in the real estate market. The number of sales of existing homes is provided on both a seasonally adjusted annual rate as well as a non-seasonally adjusted rate. In addition, the average and mean sales prices are also published along with inventory levels.

The rate of existing home sales and inventory are usually inversely related. That is, if sales of existing homes rise, then inventory levels are expected to decrease as homes come off the market. However, this is not always the case. For example, inventory increases could outpace demand if a flood of homes enter the market through foreclosures and distressed sales.

Figure 1
Existing Home Sales & Months Supply

2007 – 2009, February 2010 – July 2010
Sales in Thousands

Existing Home Sales

Source: National Association of Realtors.

Figure 2
Existing Home Sales Percent Change Month-Over Month

February 2010 – July 2010

Existing Home Sales Percent Change

Source: National Association of Realtors.

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