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

*All data is unadjusted for seasonality
Median Price% Change from 1 Year Ago
MSA4th Quarter4th QuarterPrice
Dallas – Fort Worth$246,100$254,9003.6%
Kansas City$193,800$204,0005.3%
Miami – Fort Lauderdale$335,000$350,0004.5%
Minneapolis – St. Paul$250,200$271,2008.4%
New Orleans$200,000$206,6003.3%
New York – Northern New Jersey – Long Island$372,900$371,300-0.4%
Saint Louis$166,700$174,1004.4%
San Antonio$217,800$229,1005.2%
San Diego$610,000$626,0002.6%
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

March 22, 2019

February Existing Home Sales (National Association of Realtors)

Existing-home sales shot up 11.8 percent from January to a seasonally adjusted annual rate of 5.51 million in February. However, sales are down 1.8 percent from a year ago (5.61 million in February 2018).

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March 14, 2019

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

Sales of new single-family houses in January 2019 were at a seasonally adjusted annual rate of 607,000. This is 6.9 percent below the revised December rate of 652,000, but is 4.1 percent below the January 2018 estimate of 633,000.

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March 13, 2019

Construction Spending (U.S. Department of Commerce)

Construction spending during January 2019 was estimated at a seasonally adjusted annual rate of $1,279.6 billion, 1.3 percent above the revised December estimate of $1,263.1 billion. The January figure is 0.3 percent above the January 2018 estimate of $1,276.3 billion.

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March 8, 2019

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

Single-family authorizations in January were at a rate of 812,000; this is 2.1 percent below the revised December figure of 829,000. Single-family housing starts in January were at a rate of 926,000; this is 25.1 percent above the revised December figure of 740,000. Single-family housing completions in January were at a rate of 914,000; this is 30.2 percent below the revised December rate of 702,000.

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February 27, 2019

January Pending Home Sales (National Association of Realtors)

The pending home sales index increased 4.6 percent to 103.2 in January, up from 98.7 in December. Year-over-year contract signings, however, declined 2.3 percent, making this the thirteenth 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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