Commentary  25932
4th Quarter, 2017 Housing Statistics: Minnesota


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:        UP
Forecast Accuracy:      93%

LittleBigHomes.com publishes forecasts for the trend in home prices in all 50
states, the District of Columbia and 380 Metropolitan Statistical Areas. The
House Price Trend will be either UP or DOWN. The forecast for the trend in the
Minnesota housing market for the 12 months ending with the 4th Quarter of
2018 is UP. The Accuracy of the Trend Projection for Minnesota is 93%. In
other words, when tested against historical data, the forecasting methodology
was correct 93% of the time. Accordingly, LittleBigHomes.com estimates that the
probability for rising house prices in Minnesota is 93% during this period. If this
Housing Market Forecast is correct, home prices will be higher in the 4th
Quarter of 2018 than they were in the 4th Quarter of 2017. Check this page
each quarter for updates to the Minnesota Real Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      88%

The forecast for the trend in the Minnesota housing market for the 3 years
ending with the 4th Quarter of 2020 is UP. The Accuracy of the Trend
Prediction for Minnesota is 88%. In other words, when tested against historical
data, the forecasting methodology was correct 88% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in
Minnesota is 88% during this period. If this Housing Market Forecast is correct,
home values will be higher in the 4th Quarter of 2020 than they were in the 4th
Quarter of 2017. Check this page each quarter for updates to the Minnesota
Real Estate Market Forecast.




Part 2: MARKET SUMMARY
4th Quarter, 2017 Housing Data: Minnesota


Historical Home Price Appreciation
Last Quarter                                     0.17%
Last Year . . . . . . . . . . . . . . . . . . . .  6.6%
Last 5 Years                                     28%
Last 10 Years . . . . . . . . . . . . . . . . . 7%
Last 20 Years                                   102%



Annual Home Price Appreciation Rates
1988      3.80%
1989      3.75%
1990      0.58%
1991      4.30%
1992      2.90%
1993      4.22%
1994      3.58%
1995      6.05%
1996      4.17%
1997      5.72%
1998      5.73%
1999      9.39%
2000      10.64%
2001      10.03%
2002      8.72%
2003      8.69%
2004      8.24%
2005      7.08%
2006      1.14%
2007      -2.96%
2008      -5.85%
2009      -6.51%
2010      -1.53%
2011      -4.14%
2012      0.17%
2013      4.83%
2014      4.45%
2015      4.56%
2016      5.13%
2017      6.61%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              0.17%         Rank: 47 of 51 (8th Percentile)
Last Year  . . . . . . . . . . . . . . . .  6.6%           Rank: 17 of 51 (68th Percentile)
Last 5 Years                              28%            Rank: 16 of 51 (70th Percentile)
Last 10 Years  . . . . . . . . . . . .   7%              Rank: 31 of 51 (40th Percentile)
Last 20 Years                            102%          Rank: 23 of 51 (56th Percentile)


The change in home prices for Minnesota are shown above for five time
periods. For example: Minnesota appreciated 0.17% in the Last Quarter. At that
rate, the Minnesota Real Estate Market was ranked 47th out of the 51 real
estate markets of all 50 U.S. States and the District of Columbia. Minnesota was
in the 8th percentile. So Minnesota performed better in the Last Quarter than
8% of these 51 real estate markets.

























Part 3: MARKET HIGHLIGHTS
4th Quarter, 2017 Housing Statistics: Minnesota

The data and analysis on this page pertains to Minnesota, hereinafter referred
to as "Minnesota". The all time high in the Minnesota Home Price Index was
382.6 in the 4th Quarter, of 2017.  The Home Price Index indicates that the
Minnesota Market is up 7% over the last 10 years. Home prices in the
Minnesota Real Estate Market have gained 6.61% over the last 12 months.
Over the last thirty years, it is up 196%.

The 4th Quarter index value was 0.65 points higher than the 3rd Quarter, 2017
index value of 381.95, resulting in a 0.17% rise in the 4th Quarter for the
Minnesota Market.

The Minnesota Home Price Index has increased for the last 22 consecutive
quarters. The current record holder for consecutive increases in the Home
Price Index is Washington DC, with increases in the last 27 consecutive
quarters. The current record holders for consecutive declines in the Home Price
Index are North Dakota and Connecticut, with declines in the last 1 consecutive
quarters.

The highest annual change in the value of houses in the Minnesota Real Estate
Market was 20% in the twelve months ended with the 1st Quarter of 1979. The
worst annual change in home values  in the Minnesota Market was -10% in the
twelve months ended with the 1st Quarter of 2010.

The highest growth in home values in the Minnesota Real Estate Market over a
three year period was 34% in the three years ended with the 1st Quarter of
2002. The worst performance over a three year period in the Minnesota Market
was -17% in the three years ended with the 1st Quarter of 2011.

This page provides a long term graph and commentary of the Minnesota Home
Price Index.  Bookmark this page! Then LittleBigHomes.com's detailed research
and statistics about Minnesota Home Prices will be at your fingertips when you
need them.

All calculations are based on the quarterly value of the House Price Index for
the Minnesota Market. The terms House Price Index and Home Price Index, as
used in this site, refer to the Federal Housing Finance Agency (FHFA) House
Price Index.

Significant time is required to research quarterly sales price and appraisal data
from mortgage transactions in the Minnesota Real Estate Market. As a result,
Home Price data is not available for a number of months after the end of each
quarter.



Part 4: APPRECIATION RATES & RANKINGS
4th Quarter, 2017 Housing Data: Minnesota

The trend of Minnesota Home Prices relative to 50 states and the District of
Columbia is detailed below. Five different time periods are reviewed.  Each
paragraph identifies the top and bottom performing markets as well as the
average and median performance for all cities during each time period. The
data and analysis on this page pertains to Minnesota, hereinafter referred to as
"Minnesota".

Last Quarter:
During the 4th Quarter of 2017, Minnesota Home Prices had a rank of 47, with
appreciation of 0.17%. The top performing real estate market during the 4th
Quarter was Nevada, with a rise of 2.66%. The worst market during that period
was North Dakota, with appreciation of -0.47%.
The median for all markets during the 4th Quarter was 0.82%. The average for
the quarter was 0.83%.

Last Year:
During the last 12 months, Minnesota Home Prices had a rank of 17, with
appreciation during the year of 6.61%. The top performing market during the
last year was Nevada, with an increase of 11.7%. The worst real estate market
during that period was Connecticut, with appreciation of 1.2%.
The median for all markets during this period was 5.46%. The average was
5.69%.

Last 5 Years:
Over the 5 years ended with the 4th Quarter of 2017, Minnesota Home Prices
ranked 16, with a total appreciation of 28.3%. The top performing real estate
market during the 5 year period was Nevada, with a growth in value of 82%.
The worst market during that period was Connecticut, with appreciation of 4%.
The median for all markets during this period was 20%. The average over the 5
years was 27%.

Last 10 Years:
During the 10 years ended in the 4th Quarter of 2017, Minnesota Home Prices
had a rank of 31, with appreciation during the decade of 7%. The top
performing market during the period was North Dakota, with a rise of 51%. The
worst real estate market during the 10 year time period was Connecticut, with
appreciation of -14%.
The median for all markets over the last 10 years was 9%. The average over
that time frame was 10%.

Last 20 Years:
During the 20 years ended in the 4th Quarter of 2017, Minnesota Home Prices
had a rank of 23, with total growth over the 20 year period of 102%. The top
performing real estate market during the period was Washington DC, with an
increase of 358%. The worst market during the last 20 years was Ohio, with
appreciation of 42%.
The median for all markets during the last 20 years was 96%. The average  
over that period was 103%.

Historical research data on the Home Price Index for the Minnesota Real Estate
Market is available back to the 1st Quarter, of 1975. All calculations are based
on the quarterly value of the House Price Index for Minnesota. Real estate
appreciation figures represent total net increase or decrease over each time
period. (Unless specifically stated, the figures do not represent annual or
quarterly rates of change.)



Data Source for Commentary & Charts: Federal Housing Finance Agency
Updated Wednesday, May 9, 2018.
SignalTrend  Inc. 2008 - 2018; All rights reserved.


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Minnesota - House Price Index (HPI)
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The House Price Index (HPI) shows changes in Minnesota single family home prices in logarithmic
scale. The March, 1995 index value equals 100.  Real estate forecasts, analysis, statistics and
appreciation rates are provided below.
1975
1980
1985
1990
1995
2000
2005
2010
2035
2015
2020
2025
2030
100
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