Second Quarter 2018 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$255,200$268,2005.1%
Kansas City$201,700$215,0006.6%
Miami – Fort Lauderdale$335,000$353,0005.4%
Minneapolis – St. Paul$259,000$280,2008.2%
New Orleans$202,000$216,1007.0%
New York – Northern New Jersey – Long Island$414,000$410,500-0.8%
Saint Louis$174,000$185,7006.7%
San Antonio$222,600$230,3003.5%
San Diego$605,000$645,0006.6%
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, 2018

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

Single-family authorizations in August were at a rate of 820,000; this is 6.1 percent below the revised July figure of 873,000. Single-family housing starts in August were at a rate of 876,000; this is 1.9 percent above the revised July figure of 860,000. Single-family housing completions in August were at a rate of 923,000; this is 11.6 percent above the revised July rate of 827,000.

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September 4, 2018

Construction Spending (U.S. Department of Commerce)

Construction spending during July 2018 was estimated at a seasonally adjusted annual rate of $1,315.4 billion, 0.1 percent above the revised June estimate of $1,314.2 billion. The July figure is 5.8 percent above the July 2017 estimate of $1,242.8 billion. During the first seven months of this year, construction spending amounted to $740.5 billion, 5.2 percent above the $703.7 billion for the same period in 2017.

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August 29, 2018

July Pending Home Sales (National Association of Realtors)

The pending home sales index decreased 0.7 percent to 106.2 in July from 107.0 in June. With last month’s decline, contract signings are now down 2.3 percent year-over-year.

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August 22, 2018

July Existing Home Sales (National Association of Realtors)

Existing-home sales decreased 0.7 percent to a seasonally adjusted annual rate of 5.34 million in July from 5.38 million in June. With last month’s decline, sales are now 1.5 percent below a year ago and have fallen on an annual basis for five straight months.

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July 25, 2018

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

Sales of new single-family houses in June 2018 were at a seasonally adjusted annual rate of 631,000. This is 5.3 percent below the revised May rate of 666,000, but is 2.4 percent above the June 2017 estimate of 616,000.

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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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