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 3rd Quarter 3rd Quarter Price
2016 2017
Atlanta $191,500 $204,900 6.7%
Baltimore $264,300 $270,000 2.2%
Boston $435,300 $464,100 6.6%
Cincinnati $157,000 $169,100 7.7%
Dallas – Fort Worth $230,500 $249,000 8.0%
Houston $217,400 $233,900 7.6%
Indianapolis $164,100 $173,700 5.9%
Kansas City $188,000 $197,800 5.2%
Miami – Fort Lauderdale $315,000 $340,000 7.9%
Minneapolis – St. Paul $240,300 $257,800 7.3%
New Orleans $191,300 $204,300 6.8%
New York – Northern New Jersey – Long Island $397,600 $419,100 5.4%
Philadelphia $232,200 $239,100 3.0%
Phoenix $234,800 $238,900 1.7%
Portland $358,500 $389,400 8.6%
Saint Louis $170,000 $176,500 3.8%
San Antonio $212,300 $227,000 4.0%
San Diego $563,000 $607,000 7.8%
Washington $393,500 $408,500 3.8%
U.S. $241,300 $254,000 5.3%
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

December 1, 2017

Construction Spending (U.S. Department of Commerce)

Construction spending during October 2017 was estimated at a seasonally adjusted annual rate of $1,241.5 billion, 1.4 percent above the revised September estimate of $1,224.6 billion. The October figure is 2.9 percent above the October 2016 estimate of $1,206.6 billion. During the first 10 months of this year, construction spending amounted to $1,029.6 billion, 4.1 percent above the $988.8 billion for the same period in 2016.

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November 29, 2017

October Pending Home Sales (National Association of Realtors)

The pending home sales index rose 3.5 percent to 109.3 in October from a downwardly revised 105.6 in September. The index is now at its highest reading since June (110.0), but is still 0.6 percent below a year ago.

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November 27, 2017

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

Sales of new single-family houses in October 2017 were at a seasonally adjusted annual rate of 685,000. This is 6.2 percent above the revised September rate of 645,000 and is 18.7 percent above the October 2016 estimate of 577,000.

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November 21, 2017

October Existing Home Sales (National Association of Realtors)

Existing home sales increased 2.0 percent to a seasonally adjusted annual rate of 5.48 million in October from a downwardly revised 5.37 million in September. After last month’s increase, sales are at their strongest pace since June (5.51 million), but still remain 0.9 percent below a year ago.

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November 17, 2017

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

Single-family authorizations in October were at a rate of 839,000; this is 1.9 percent above the revised September figure of 823,000. Single-family housing starts in October were at a rate of 877,000; this is 5.3 percent above the revised September figure of 833,000. Single-family housing completions in October were at a rate of 793,000; this is 2.6 percent above the revised September rate of 773,000.

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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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