Third Quarter 2018 Metro Area Existing Single-Family Home Sales and Prices

*All data is unadjusted for seasonality
Median Price% Change from 1 Year Ago
MSA3rd Quarter3rd QuarterPrice
Dallas – Fort Worth$249,000$262,1005.3%
Kansas City$197,700$204,9003.6%
Miami – Fort Lauderdale$340,000$355,0004.4%
Minneapolis – St. Paul$257,800$274,5006.5%
New Orleans$204,300$216,0005.7%
New York – Northern New Jersey – Long Island$392,800$392,200-0.2%
Saint Louis$176,500$182,0003.1%
San Antonio$220,700$231,8005.0%
San Diego$607,000$650,0007.1%
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 28, 2018

November Pending Home Sales (National Association of Realtors)

The pending home sales index decreased 0.7 percent to 101.4 in November, down from 102.1 in October. However, year-over-year contract signings dropped 7.7 percent, making this the eleventh straight month of annual decreases.

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December 19, 2018

November Existing Home Sales (National Association of Realtors)

Existing-home sales increased 1.9 percent from October to a seasonally adjusted rate of 5.32 million in November. Sales are now down 7.0 percent from a year ago (5.72 million in November 2017).

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December 18, 2018

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

Single-family authorizations in November were at a rate of 848,000; this is 0.1 percent above the revised October figure of 847,000. Single-family housing starts in November were at a rate of 824,000; this is 4.6 percent below the revised October figure of 864,000. Single-family housing completions in November were at a rate of 772,000; this is 5.4 percent below the revised October rate of 816,000.

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December 3, 2018

Construction Spending (U.S. Department of Commerce)

Construction spending during October 2018 was estimated at a seasonally adjusted annual rate of $1,308.8 billion, 0.1 percent below the revised September estimate of $1,310.8 billion. The October figure is 4.9 percent above the October 2017 estimate of $1,247.5 billion. During the first ten months of this year, construction spending amounted to $1,096.4 billion, 5.1 percent above the $1,043.6 billion for the same period in 2017.

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November 28, 2018

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

Sales of new single-family houses in October 2018 were at a seasonally adjusted annual rate of 544,000. This is 8.9 percent below the revised September rate of 597,000 and is 12.0 percent below the October 2017 estimate of 618,000.

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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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