Fourth Quarter 2017 Metro Area Existing Single-Family Home Sales and Prices

*All data is unadjusted for seasonality
Median Price% Change from 1 Year Ago
MSA4th Quarter4th QuarterPrice
Dallas – Fort Worth$230,600$246,1006.7%
Kansas City$179,200$193,8008.1%
Miami – Fort Lauderdale$310,500$335,0007.9%
Minneapolis – St. Paul$235,200$250,2006.4%
New Orleans$186,700$200,0007.1%
New York – Northern New Jersey – Long Island$382,300$395,9003.6%
Saint Louis$160,800$166,7003.7%
San Antonio$206,300$217,8005.6%
San Diego$568,000$610,0007.4%
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

March 16, 2018

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

Single-family authorizations in February were at a rate of 872,000; this is 0.6 percent below the revised January figure of 877,000. Single-family housing starts in February were at a rate of 902,000; this is 2.9 percent  above the revised January figure of 877,000. Single-family housing completions in February were at a rate of 895,000; this is 3.0 percent above the revised January rate of 869,000.

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March 1, 2018

Construction Spending (U.S. Department of Commerce)

Construction spending during January 2018 was estimated at a seasonally adjusted annual rate of $1,262.8 billion, nearly the same as the revised December estimate of $1,262.7 billion. The January figure is 3.2 percent above the January 2017 estimate of $1,223.5 billion.

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February 28, 2018

January Pending Home Sales (National Association of Realtors)

The pending home sales index fell 4.7 percent to 104.6 in January from a downwardly revised 109.8 in December 2017. After last month’s retreat, the index is now 3.8 percent below a year ago and at its lowest level since October 2014 (104.1).

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February 26, 2018

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

Sales of new single-family houses in January 2018 were at a seasonally adjusted annual rate of 593,000. This is 7.8 percent below the revised December rate of 643,000 and is 1.0 percent below the January 2017 estimate of 599,000.

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February 21, 2018

January Existing Home Sales (National Association of Realtors)

Existing-home sales sank 3.2 percent in January to a seasonally adjusted annual rate of 5.38 million from a downwardly revised 5.56 million in December 2017. After last month’s decline, sales are 4.8 percent below a year ago (largest annual decline since August 2014 at 5.5 percent) and at their slowest pace since last September (5.37 million).

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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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