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

*All data is unadjusted for seasonality
Median Price% Change from 1 Year Ago
MSA4th Quarter4th QuarterPrice
Dallas – Fort Worth$230,600$246,1006.7%
Kansas City$179,200$193,8008.1%
Miami – Fort Lauderdale$310,500$335,0007.9%
Minneapolis – St. Paul$235,200$250,2006.4%
New Orleans$186,700$200,0007.1%
New York – Northern New Jersey – Long Island$382,300$395,9003.6%
Saint Louis$160,800$166,7003.7%
San Antonio$206,300$217,8005.6%
San Diego$568,000$610,0007.4%
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

February 16, 2018

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

Single-family authorizations in January were at a rate of 866,000; this is 1.7 percent below the revised December figure of 881,000. Single-family housing starts in January were at a rate of 877,000; this is 3.7 percent above the revised December figure of 846,000. Single-family housing completions in January were at a rate of 850,000; this is 2.2 percent above the revised December rate of 832,000.

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February 1, 2018

Construction Spending (U.S. Department of Commerce)

Construction spending during December 2017 was $1,253.3 billion, 0.7 percent above the revised November estimate of $1,245.1 billion. The December figure is 2.6 percent above the December 2016 estimate of $1,221.6 billion.

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January 31, 2018

December Pending Home Sales (National Association of Realtors)

The pending home sales index moved higher 0.5 percent to 110.1 in December from an upwardly revised 109.6 in November. With last month’s modest increase, the index is now 0.5 percent above a year ago.

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January 24, 2018

December Existing Home Sales (National Association of Realtors)

In December, existing-home sales slipped 3.6 percent to a seasonally adjusted annual rate of 5.57 million from a downwardly revised 5.78 million in November. After last month’s decline, sales are still 1.1 percent above a year ago.

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December 22, 2017

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

Sales of new single-family houses in November 2017 were at a seasonally adjusted annual rate of 733,000. This is 17.5 percent above the revised October rate of 624,000 and is 26.6 percent above the November 2016 estimate of 579,000.

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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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