Commentary  25942
2nd Quarter, 2017 Housing Statistics: Nevada


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:        UP
Forecast Accuracy:      86%

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
Nevada housing market for the 12 months ending with the 2nd Quarter of 2018
is UP. The Accuracy of the Trend Projection for Nevada is 86%. In other words,
when tested against historical data, the forecasting methodology was correct
86% of the time. Accordingly, LittleBigHomes.com estimates that the probability
for rising house prices in Nevada is 86% during this period. If this Housing
Market Forecast is correct, home prices will be higher in the 2nd Quarter of
2018 than they were in the 2nd Quarter of 2017. Check this page each quarter
for updates to the Nevada Real Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      80%

The forecast for the trend in the Nevada housing market for the 3 years ending
with the 2nd Quarter of 2020 is UP. The Accuracy of the Trend Prediction for
Nevada is 80%. In other words, when tested against historical data, the
forecasting methodology was correct 80% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in
Nevada is 80% during this period. If this Housing Market Forecast is correct,
home values will be higher in the 2nd Quarter of 2020 than they were in the 2nd
Quarter of 2017. Check this page each quarter for updates to the Nevada Real
Estate Market Forecast.




Part 2: MARKET SUMMARY
2nd Quarter, 2017 Housing Data: Nevada


Historical Home Price Appreciation
Last Quarter                                     3.27%
Last Year . . . . . . . . . . . . . . . . . . . .  9.4%
Last 5 Years                                     81%
Last 10 Years . . . . . . . . . . . . . . . . . -17%
Last 20 Years                                   85%
Decline From All Time High               19.99%


Annual Home Price Appreciation Rates
1987      0.29%
1988      4.13%
1989      6.10%
1990      7.32%
1991      5.62%
1992      3.04%
1993      2.19%
1994      0.73%
1995      5.28%
1996      1.68%
1997      2.77%
1998      2.63%
1999      0.74%
2000      4.65%
2001      6.77%
2002      6.53%
2003      13.26%
2004      34.18%
2005      17.72%
2006      2.31%
2007      -8.53%
2008      -25.74%
2009      -16.57%
2010      -9.36%
2011      -12.24%
2012      3.74%
2013      21.87%
2014      10.95%
2015      11.83%
2016      7.90%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              3.27%         Rank: 12 of 51 (78th Percentile)
Last Year  . . . . . . . . . . . . . . . .  9.4%           Rank: 7 of 51 (88th Percentile)
Last 5 Years                              81%            Rank: 1 of 51 (100th Percentile)
Last 10 Years  . . . . . . . . . . . .   -17%           Rank: 51 of 51 (Lowest Percentile...
last place)
Last 20 Years                            85%            Rank: 31 of 51 (40th Percentile)
Decline From All Time High        19.99%

The change in home prices for Nevada are shown above for five time periods.
For example: Nevada appreciated 3.27% in the Last Quarter. At that rate, the
Nevada Real Estate Market was ranked 12th out of the 51 real estate markets
of all 50 U.S. states and the District of Columbia. Nevada was in the 78th
percentile. So Nevada performed better in the Last Quarter than 78% of these
51 real estate markets.

























Part 3: MARKET HIGHLIGHTS
2nd Quarter, 2017 Housing Statistics: Nevada

The data and analysis on this page pertains to Nevada, hereinafter referred to
as "Nevada". The all time high in the Nevada Home Price Index was 409.8 in the
3rd Quarter, of 2006. The 2nd Quarter, 2017 index value was 327.9. That's a
decline of 81.91 points or 19.99% below the Nevada Home Price Index all time
high.  The Home Price Index indicates that the Nevada Market is down 17%
over the last 10 years. Home prices in the Nevada Real Estate Market have
gained 9.36% over the last 12 months. Over the last thirty years, it is up 161%.

The 2nd Quarter index value was 10.39 points higher than the 1st Quarter,
2017 index value of 317.50, resulting in a 3.27% rise in the 2nd Quarter for the
Nevada Market.

The Nevada Home Price Index has increased for the last 20 consecutive
quarters. The current record holder for consecutive increases in the Home
Price Index is Washington DC, with increases in the last 25 consecutive
quarters. The current record holder for consecutive declines in the Home Price
Index is Alaska, with declines in the last 1 consecutive quarters.

The highest annual change in the value of houses in the Nevada Real Estate
Market was 37% in the twelve months ended with the 3rd Quarter of 2004. The
worst annual change in home values  in the Nevada Market was -26% in the
twelve months ended with the 4th Quarter of 2008.

The highest growth in home values in the Nevada Real Estate Market over a
three year period was 80% in the three years ended with the 1st Quarter of
2006. The worst performance over a three year period in the Nevada Market
was -46% in the three years ended with the 2nd Quarter of 2010.

This page provides a long term graph and commentary of the Nevada Home
Price Index.  Bookmark this page! Then LittleBigHomes.com's detailed research
and statistics about Nevada 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 Nevada 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 Nevada 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
2nd Quarter, 2017 Housing Data: Nevada

The trend of Nevada 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 Nevada, hereinafter referred to as
"Nevada".

Last Quarter:
During the 2nd Quarter of 2017, Nevada Home Prices had a rank of 12, with
appreciation of 3.27%. The top performing real estate market during the 2nd
Quarter was Idaho, with a rise of 4.76%. The worst market during that period
was Alaska, with appreciation of -0.14%.
The median for all markets during the 2nd Quarter was 2.34%. The average for
the quarter was 2.31%.

Last Year:
During the last 12 months, Nevada Home Prices had a rank of 7, with
appreciation during the year of 9.36%. The top performing market during the
last year was Washington, with an increase of 11.4%. The worst real estate
market during that period was Alaska, with appreciation of 0.7%.
The median for all markets during this period was 5.28%. The average was
5.57%.

Last 5 Years:
Over the 5 years ended with the 2nd Quarter of 2017, Nevada Home Prices
outperformed every state, with appreciation of 80.6%. The worst performer
during that period was Connecticut, with appreciation of 4%.
The median for all markets during this period was 19%. The average over the 5
years was 26%.

Last 10 Years:
During the 10 years ended in the 2nd Quarter of 2017, Nevada Home Prices
had the worst performance in the country, with appreciation during the decade
of -17%. The top performer during the period was North Dakota, with
appreciation of 53%.
The median for all markets over the last 10 years was 6%. The average over
that time frame was 7%.

Last 20 Years:
During the 20 years ended in the 2nd Quarter of 2017, Nevada Home Prices
had a rank of 31, with total growth over the 20 year period of 85%. The top
performing real estate market during the period was Washington DC, with an
increase of 343%. The worst market during the last 20 years was Ohio, with
appreciation of 43%.
The median for all markets during the last 20 years was 98%. The average  
over that period was 103%.

Historical research data on the Home Price Index for the Nevada 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 Nevada. 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 Tuesday, November 7, 2017.
SignalTrend  Inc. 2008 - 2017; All rights reserved.


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Nevada - House Price Index (HPI)
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The House Price Index (HPI) shows changes in Nevada 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
1000
10