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

July 1, 2019

Construction Spending (U.S. Department of Commerce)

Construction spending during May 2019 was estimated at a seasonally adjusted annual rate of $1,293.9 billion, 0.8 percent below the revised April estimate of $1,304.0 billion. The May figure is 2.3 percent below the May 2018 estimate of $1,324.3 billion. During the first five months of this year, construction spending amounted to $498.8 billion, 0.3 percent below the $500.3billion for the same period in 2018.

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June 27, 2019

May Pending Home Sales (National Association of Realtors)

The pending home sales index climbed 1.1% to 105.4 in May, up from 104.3 in April. Year-over-year contract signings declined 0.7%, marking the 17th straight month of annual decreases.

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June 25, 2019

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

Sales of new single-family houses in May 2019 were at a seasonally adjusted annual rate of 626,000. This is 7.8 percent below the revised April rate of 679,000 and is 3.7 percent below the May 2018 estimate of 650,000.

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June 21, 2019

May Existing Home Sales (National Association of Realtors)

Existing-home sales jumped 2.5% from April to a seasonally adjusted annual rate of 5.34 million in May. Total sales, however, are down 1.1% from a year ago (5.40 million in May 2018).

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June 18, 2019

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

Single-family authorizations in May were at a rate of 815,000; this is 3.7 percent above the revised April figure of 786,000. Single-family housing starts in May were at a rate of 820,000; this is 6.4 percent below the revised April figure of 876,000. Single-family housing completions in May were at a rate of 890,000; this is 5.0 percent below the revised April rate of 937,000.

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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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