First Quarter 2019 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
Dallas – Fort Worth$250,700$254,3001.4%
Kansas City$197,700$205,4003.9%
Miami – Fort Lauderdale$340,000$350,0002.9%
Minneapolis – St. Paul$260,400$275,5005.8%
New Orleans$195,500$204,5004.6%
New York – Northern New Jersey – Long Island$389,700$396,6001.8%
Saint Louis$162,400$170,9005.2%
San Antonio$218,900$226,5003.5%
San Diego$610,000$620,0001.6%
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

May 23, 2019

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

Sales of new single-family houses in April 2019 were at a seasonally adjusted annual rate of 673,000. This is 6.9 percent below the revised March rate of 723,000 and is 7.0 percent above the April 2018 estimate of 629,000.

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May 21, 2019

April Existing Home Sales (National Association of Realtors)

Existing-home sales fell 0.4% from March to a seasonally adjusted annual rate of 5.19 million in April. Total sales are down 4.4% from a year ago (5.43 million in April 2018).

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May 16, 2019

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

Single-family authorizations in April were at a rate of 782,000; this is 4.2 percent below the revised March figure of 816,000. Single-family housing starts in April were at a rate of 854,000; this is 6.2 percent above the revised March figure of 804,000. Single-family housing completions in April were at a rate of 918,000; this is 4.1 percent below the revised March rate of 957,000.

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May 1, 2019

Construction Spending (U.S. Department of Commerce)

Construction spending during March 2019 was estimated at a seasonally adjusted annual rate of $1,282.2 billion, 0.9 percent below the revised February estimate of $1,293.3 billion. The March figure is 0.8 percent below the March 2018 estimate of $1,293.1 billion. During the first three months of this year, construction spending amounted to $277.7 billion, 0.2 percent below the $278.3 billion for the same period in 2018.

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April 30, 2019

March Pending Home Sales (National Association of Realtors)

The pending home sales index increased 3.8% to 105.8 in March, up from 101.9 in February. Year-over-year contract signings declined 1.2%, making this the 15th straight month of annual decreases.

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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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