Metropolitan Median Area Prices and Affordability
A climb in home sales and insufficient supply caused home prices to steadily rise in most metro areas in the second quarter of 2015.
The next quarterly Metropolitan Median Area Prices and Affordability and Housing Affordability Index release will be Thursday, November 12, 2015, at 10:00 a.m. Eastern Time.
NAR’s quarterly Metropolitan Median Area Prices and Affordability report provides a breakdown of condo and co-op prices by metro market.
Metro Area Construction and Employment
NAR measured the amount of new home construction relative to the number of newly employed workers in 146 metropolitan statistical areas1 (MSAs) throughout the U.S. to determine whether homebuilding has kept up with the steadily improving pace of job growth in the past three years2. The findings reveal that homebuilding activity for all housing types is underperforming in roughly two-thirds of measured metro areas.
1Areas are generally metropolitan statistical areas as defined by the U.S. Office of Management and Budget. NAR adheres to the OMB definitions, although in some areas an exact match is not possible from the available data. A list of counties included in MSA definitions is available at: http://www.census.gov/population/estimates/metro-city/List4.txt.
2NAR’s study analyzed homebuilding permits and employment data during the years of 2012 through 2014.
Ranked Median Single Family 2st Quarter 2015 (PDF: 602K)
Revised Historical Data
NAR has revised data for the Charlotte-Gastonia-Concord, NC-SC MSA and has added 2 new MSAs, Ann Arbor, MI and Harrisburg-Carlisle, PA.
Revised MSA Data (MS Excel: 51 KB)
Historical data can be purchased in the REALTOR® Store.
Second quarter 2015 metro area home prices and quarterly existing-home sales will be released Thursday, November 12, 2015 at 10:00 a.m. ET.