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

November 20, 2018

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

Single-family authorizations in October were at a rate of 849,000; this is 0.6 percent below the revised September figure of 854,000. Single-family housing starts in October were at a rate of 865,000; this is 1.8 percent below the revised September figure of 881,000. Single-family housing completions in October were at a rate of 832,000; this is 1.2 percent below the revised September rate of 842,000.

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November 1, 2018

Construction Spending (U.S. Department of Commerce)

Construction spending during September 2018 was estimated at a seasonally adjusted annual rate of $1,329.5 billion, nearly the same as the revised August estimate of $1,328.8 billion. The September figure is 7.2 percent above the September 2017 estimate of $1,240.4 billion. During the first nine months of this year, construction spending amounted to $982.9 billion, 5.5 percent above the $931.3 billion for the same period in 2017.

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October 25, 2018

September Pending Home Sales (National Association of Realtors)

The pending home sales index increased 0.5 percent to 104.6 in September from 104.1 in August. However, year-over-year, contract signings dropped 1.0 percent, making this the ninth straight month of annual decreases.

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October 24, 2018

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

Sales of new single-family houses in September 2018 were at a seasonally adjusted annual rate of 553,000. This is 5.5 percent below the revised August rate of 585,000 and is 13.2 percent below the September 2017 estimate of 637,000.

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October 19, 2018

September Existing Home Sales (National Association of Realtors)

Existing-home sales fell 3.4 percent from August to a seasonally adjusted rate of 5.15 million in September. Sales are now down 4.1 percent from a year ago (5.37 million in September 2017).

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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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