First Quarter 2018 Metro Area Existing Single-Family Home Sales and Prices

*All data is unadjusted for seasonality
Median Price% Change from 1 Year Ago
MSA1st Quarter1st QuarterPrice
20172018
Atlanta$182,800$204,50011.9%
Baltimore$237,600$253,7006.8%
Boston$414,200$442,7006.9%
Cincinnati$145,400$157,3008.2%
Dallas – Fort Worth$236,500$250,7006.0%
Houston$222,300$229,8003.4%
Indianapolis$159,200$176,10010.6%
Kansas City$179,000$197,70010.4%
Miami – Fort Lauderdale$318,000$340,0006.9%
Minneapolis – St. Paul$234,700$260,40011.0%
New Orleans$186,400$195,5004.9%
New York – Northern New Jersey – Long Island$376,800$363,300-3.6%
Philadelphia$209,000$196,900-5.8%
Phoenix$237,900$261,1009.8%
Portland$359,900$384,8006.9%
Saint Louis$154,900$162,4004.8%
San Antonio$202,600$218,9008.0%
San Diego$564,000$610,0008.2%
Washington$383,500$394,4002.8%
U.S.$232,200$245,5005.7%
NOTE: There are differences between this data and locally reported data because of differences in methodology, which may include geographic coverage and housing types. More importantly, there generally is a parallel between the percentage changes over time that is typically seen even when using different methodologies.

Economic Indicators

May 24, 2018

April Existing Home Sales (National Association of Realtors)

Existing-home sales decreased 2.5 percent to a seasonally adjusted annual rate of 5.46 million in April from 5.60 million in March. With last month’s decline, sales are now 1.4 percent below a year ago and have fallen year-over-year for two straight months.

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May 23, 2018

New Residential Sales (U.S. Department of Commerce)

Sales of new single-family houses in April 2018 were at a seasonally adjusted annual rate of 662,000. This is 1.5 percent below the revised March rate of 672,000, but is 11.6 percent abovethe April 2017 estimate of 593,000.

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May 16, 2018

New Residential Construction (U.S. Department of Commerce)

Single-family authorizations in April were at a rate of 859,000; this is 0.9 percent above the revised March figure of 851,000. Single-family housing starts in April were at a rate of 894,000; this is 0.1 percent above the revised March figure of 893,000. Single-family housing completions in April were at a rate of 820,000; this is 4.0 percent below the revised March rate of 854,000.

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May 1, 2018

Construction Spending (U.S. Department of Commerce)

Construction spending during March 2018 was estimated at a seasonally adjusted annual rate of $1,284.7 billion, 1.7 percent below the revised February estimate of $1,306.4 billion. The March figure is 3.6 percent above the March 2017 estimate of $1,239.6 billion. During the first three months of this year, construction spending amounted to $279.0 billion, 5.5 percent above the $264.5 billion for the same period in 2017.

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April 30, 2018

March Pending Home Sales (National Association of Realtors)

The pending home sales index inched up 0.4 percent to 107.6 in March from a downwardly revised 107.2 in February. Even with last month’s increase in activity, the index declined on an annualized basis (3.0 percent) for the third straight month.

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November 15, 2017

Commercial Real Estate Outlook (National Association of Realtors)

Office vacancy rates are forecast to retreat 1.1 percent to 11.9 percent over the coming year as economic underpinnings advance at a moderate pace and commercial fundamentals are expected to maintain an upward trajectory. Industrial vacancy rates are expected to decline 1.1 percent to 7.8 percent, as the sector continues to ride the tail winds of trade and e-commerce. Retail availability is expected to decrease 0.4 percent to 11.7 percent; store closures have dampened the outlook but consumer spending and shopping patterns are likely to continue demand for space. Multifamily vacancy rates are predicted to change very little, down 0.4 percent to 6.1 percent, as rising household formation and a shortage of residential housing keep vacancies in check, even with rising new supply.

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