Fourth Quarter 2016 Metro Area Existing Single-Family Home Sales and Prices

*All data is unadjusted for seasonality
Median Price % Change from 1 Year Ago
MSA 4th Quarter 4th Quarter Price
2015 2016
Atlanta $169,200 $182,900 8.1%
Baltimore $233,500 $245,900 5.3%
Boston $393,600 $417,400 6.0%
Cincinnati $136,600 $151,200 10.7%
Dallas – Fort Worth $206,200 $230,600 11.8%
Houston $209,200 $224,500 7.3%
Indianapolis $149,500 $159,500 6.7%
Kansas City $167,500 $179,200 7.0%
Miami – Fort Lauderdale $285,000 $310,500 8.9%
Minneapolis – St. Paul $222,200 $235,200 5.9%
New Orleans $169,800 $186,700 10.0%
New York – Northern New Jersey – Long Island $363,400 $369,300 1.6%
Philadelphia $213,700 $221,600 3.7%
Phoenix $221,000 $235,600 6.6%
Portland $318,800 $354,700 7.1%
Saint Louis $151,600 $160,800 6.1%
San Antonio $192,100 $206,300 7.4%
San Diego $546,800 $593,000 8.4%
Washington $370,000 $384,300 3.9%
U.S. $222,300 $235,000 5.7%
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

April 27, 2017

Pending Home Sales (National Association of Realtors)

The Pending Home Sales Index declined 0.8 percent to 111.4 in March from 112.3 in February. Despite last month’s decrease, the index is 0.8 percent above a year ago.

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April 25, 2017

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

Sales of new single-family houses in March 2017 were at a seasonally adjusted annual rate of 621,000. This is 5.8 percent above the revised February rate of 587,000 and is 15.6 percent above the March 2016 estimate of 537,000.

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April 21, 2017

March Existing Home Sales (National Association of Realtors)

Existing home sales ascended 4.4 percent to a seasonally adjusted annual rate of 5.71 million in March from a downwardly revised 5.47 million in February. March’s sales pace is 5.9 percent above a year ago and surpasses January as the strongest month of sales since February 2007 (5.79 million).

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April 18, 2017

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

Single-family authorizations in March were at a rate of 823,000; this is 1.1 percent below the revised February figure of 832,000. Single-family housing starts in March were at a rate of 821,000; this is 6.2 percent below the revised February figure of 875,000. Single-family housing completions in March were at a rate of 819,000; this is 7.9 percent  above the revised February rate of 759,000.

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April 3, 2017

Construction Spending (U.S. Department of Commerce)

Construction spending during February 2017 was estimated at a seasonally adjusted annual rate of $1,192.8 billion, 0.8 percent above the revised January estimate of $1,183.8 billion. The February figure is 3.0 percent above the February 2016 estimate of $1,157.7 billion. During the first 2 months of this year, construction spending amounted to $163.3 billion, 3.0 percent above the $158.5 billion for the same period in 2016.

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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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