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

July 18, 2018

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

Single-family authorizations in June were at a rate of 850,000; this is 0.8 percent above the revised May figure of 843,000. Single-family housing starts in June were at a rate of 858,000; this is 9.1 percent below the revised May figure of 944,000. Single-family housing completions in June were at a rate of 862,000; this is 2.3 percent below the revised May rate of 882,000.

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July 2, 2018

Construction Spending (U.S. Department of Commerce)

Construction spending during May 2018 was estimated at a seasonally adjusted annual rate of $1,309.5 billion, 0.4 percent above the revised April estimate of $1,304.5 billion. The May figure is 4.5 percent above the May 2017 estimate of $1,253.6 billion. During the first five months of this year, construction spending amounted to $497.1 billion, 4.3 percent above the $476.7 billion for the same period in 2017.

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June 27, 2018

May Pending Home Sales (National Association of Realtors)

The pending home sales index decreased 0.5 percent to 105.9 in May from 106.4 in April.

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June 25, 2018

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

Sales of new single-family houses in May 2018 were at a seasonally adjusted annual rate of 689,000. This is 6.7 percent above the revised April rate of 646,000 and is 14.1 percent above the May 2017 estimate of 604,000.

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June 20, 2018

May Existing Home Sales (National Association of Realtors)

Existing-home sales decreased 0.4 percent to a seasonally adjusted annual rate of 5.43 million in May from downwardly revised 5.45 million in April. With last month’s decline, sales are now 3.0 percent below a year ago and have fallen year-over-year for three straight months.

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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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