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

*All data is unadjusted for seasonality
Median Price % Change from 1 Year Ago
MSA 2nd Quarter 2nd Quarter Price
2016 2017
Atlanta $192,000 $204,900 6.7%
Baltimore $265,800 $277,000 4.2%
Boston $435,800 $464,900 6.7%
Cincinnati $160,600 $168,600 5.0%
Dallas – Fort Worth $232,200 $255,200 9.9%
Houston $217,400 $235,600 8.4%
Indianapolis $164,300 $176,200 7.2%
Kansas City $188,600 $201,700 6.9%
Miami – Fort Lauderdale $310,000 $335,000 8.1%
Minneapolis – St. Paul $242,400 $259,000 6.8%
New Orleans $195,900 $202,000 3.1%
New York – Northern New Jersey – Long Island $366,600 $384,500 4.9%
Philadelphia $232,200 $239,100 3.0%
Phoenix $234,700 $247,300 8.3%
Portland $356,700 $389,100 9.1%
Saint Louis $170,300 $174,000 2.2%
San Antonio $210,500 $222,600 5.7%
San Diego $560,000 $605,000 8.0%
Washington $406,900 $428,700 5.4%
U.S. $240,700 $255,600 6.2%
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

August 16, 2017

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

Single-family authorizations in July were at a rate of 811,000; this is unchanged from the revised June figure of 811,000. Single-family housing starts in July were at a rate of 856,000; this is 0.5 percent below the revised June figure of 860,000. Single-family housing completions in July were at a rate of 814,000; this is 1.6 percent below the revised June rate of 827,000.

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August 1, 2017

Construction Spending (U.S. Department of Commerce)

Construction spending during June 2017 was estimated at a seasonally adjusted annual rate of $1,205.8 billion, 1.3 percent below the revised May estimate of $1,221.6 billion. The June figure is 1.6 percent above the June 2016 estimate of $1,186.4 billion. During the first 6 months of this year, construction spending amounted to $577.0 billion, 4.8 percent above the $550.5 billion for the same period in 2016.

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July 31, 2017

June Pending Home Sales (National Association of Realtors)

Pending home sales climbed 1.5 percent to 110.2 in June from an upwardly revised 108.6 in May. At 0.5 percent, the index last month increased annually for the first time since March.

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July 26, 2017

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

Sales of new single-family houses in June 2017 were at a seasonally adjusted annual rate of 610,000. This is 0.8 percent above the revised May rate of 605,000 and is 9.1 percent above the June 2016 estimate of 559,000.

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July 24, 2017

June Existing Home Sales (National Association of Realtors)

Existing home sales decreased 1.8 percent to a seasonally adjusted annual rate of 5.52 million in June from 5.62 million in May. Despite last month’s decline, June’s sales pace is 0.7 percent above a year ago, but is the second lowest of 2017 (February, 5.47 million).

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February 23, 2017

Commercial Real Estate Outlook (National Association of Realtors)

Office vacancy rates are forecast to retreat 1.1 percent to 12.1 percent over the coming year as job growth in business and professional services brings increased need for office space. Industrial vacancy rates are expected to decline 1.3 percent to 7.1 percent. Retail availability is expected to decrease 0.7 percent to 11.2 percent. Multifamily vacancy rates are predicted to change very little over the next year as new apartment completions keep openings mostly flat at 6.5 percent.

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