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

October 18, 2017

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

Single-family authorizations in September were at a rate of 819,000; this is 2.4 percent above the revised August figure of 800,000. Single-family housing starts in September were at a rate of 829,000; this is 4.6 percent below the revised August figure of 869,000. Single-family housing completions in September were at a rate of 781,000; this is 4.6 percent  above the revised August rate of 747,000.

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October 2, 2017

Construction Spending (U.S. Department of Commerce)

Construction spending during August 2017 was estimated at a seasonally adjusted annual rate of $1,218.3 billion, 0.5 percent above the revised July estimate of $1,212.3 billion. The August figure is 2.5 percent above the August 2016 estimate of $1,189.1 billion. During the first 8 months of this year, construction spending amounted to $806.2 billion, 4.7 percent above the $769.9 billion for the same period in 2016.

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September 27, 2017

August Pending Home Sales (National Association of Realtors)

Pending home sales  retreated 2.6 percent to 106.3 in August from 109.1 in July. The index is now at its lowest reading since January 2016 (106.1), is 2.6 percent below a year ago, and has fallen on an annual basis in four of the past five months.

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September 26, 2017

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

Sales of new single-family houses in August 2017 were at a seasonally adjusted annual rate of 560,000. This is 3.4 percent below the revised July rate of 580,000 and is 1.2 percent below the August 2016 estimate of 567,000.

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September 20, 2017

August Existing Home Sales (National Association of Realtors)

Existing home sales retreated 1.7 percent to a seasonally adjusted annual rate of 5.35 million in August from 5.44 million in July. Last month’s sales pace is 0.2 percent above last August, and is the lowest since then.

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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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