Second Quarter 2019 Metro Area Existing Single-Family Home Sales and Prices

*All data is unadjusted for seasonality
Median Price% Change from 1 Year Ago
MSA2nd Quarter2nd QuarterPrice
Dallas – Fort Worth$268,200$275,4002.7%
Kansas City$215,000$227,0005.6%
Miami – Fort Lauderdale$353,000$360,0002.0%
Minneapolis – St. Paul$280,200$294,1005.0%
New Orleans$216,100$228,7005.8%
New York – Northern New Jersey – Long Island$378,500$383,2001.2%
Saint Louis$185,700$194,8004.9%
San Antonio$230,300$238,8003.7%
San Diego$645,000$655,0001.6%
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

September 19, 2019

August Existing Home Sales (National Association of Realtors)

Existing-home sales rose 1.3% from July to a seasonally adjusted annual rate of 5.49 million in August. Overall sales are up 2.6% from a year ago (5.35 million in August 2018).

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September 18, 2019

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

Single-family authorizations in August were at a rate of 866,000; this is 4.5 percent above the revised July figure of 829,000. Single-family housing starts in August were at a rate of 919,000; this is 4.4 percent above the revised July figure of 880,000. Single-family housing completions in August were at a rate of 945,000; this is 3.7 percent above the revised July figure of 911,000.

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September 3, 2019

Construction Spending (U.S. Department of Commerce)

Construction spending during July 2019 was estimated at a seasonally adjusted annual rate of $1,288.8 billion, 0.1 percent above the revised June estimate of $1,288.1 billion. The July figure is 2.7 percent below the July 2018 estimate of $1,324.8 billion. During the first seven months of this year, construction spending amounted to $733.8 billion, 2.1 percent below the $749.9 billion for the same period in 2018.

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August 29, 2019

July Pending Home Sales (National Association of Realtors)

The pending home sales index decreased 2.5% to 105.6 in July, down from 108.3 in June. Year-over-year contract signings fell 0.3%, doing an about-face of the prior month’s increase.

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August 23, 2019

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

Sales of new single-family houses in July 2019 were at a seasonally adjusted annual rate of 635,000. This is 12.8 percent below the revised June rate of 728,000, but is 4.3 percent above the July 2018 estimate of 609,000.

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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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