Buffalo, NY - House Price Index (HPI)
Buffalo Real Estate Market Forecast
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The House Price Index (HPI) shows changes in Buffalo-Niagara Falls, NY single family home prices
in
logarithmic scale. The March, 1995 index value equals 100.  Updated Thursday, June 18, 2015.
Real estate forecasts, analysis, statistics and appreciation rates are provided below.
10
Buffalo Real Estate Market: Trend Outlook, Analysis & Statistics
Commentary  18492
3rd Quarter, 2014 Housing Statistics: Buffalo, New York


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:        UP
Forecast Accuracy:      74%

LittleBigHomes.com publishes forecasts for the trend in home prices in 380
Metropolitan Statistical Areas. The House Price Trend will be either UP or
DOWN. The forecast for the trend in the Buffalo housing market for the 12
months ending with the 3rd Quarter of 2015 is UP. The Accuracy of the Trend
Projection for Buffalo is 74%. In other words, when tested against historical
data, the forecasting methodology was correct 74% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in
Buffalo is 74% during this period. If this Housing Market Forecast is correct,
home prices will be higher in the 3rd Quarter of 2015 than they were in the 3rd
Quarter of 2014. Check this page each quarter for updates to the Buffalo Real
Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      84%

The forecast for the trend in the Buffalo housing market for the 3 years ending
with the 3rd Quarter of 2017 is UP. The Accuracy of the Trend Prediction for
Buffalo is 84%. In other words, when tested against historical data, the
forecasting methodology was correct 84% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in
Buffalo is 84% during this period. If this Housing Market Forecast is correct,
home values will be higher in the 3rd Quarter of 2017 than they were in the 3rd
Quarter of 2014. Check this page each quarter for updates to the Buffalo Real
Estate Market Forecast.




Part 2: MARKET SUMMARY
3rd Quarter, 2014 Housing Data: Buffalo, New York


Historical Home Price Appreciation
Last Quarter                                     2.40%
Last Year . . . . . . . . . . . . . . . . . . . .  4.7%
Last 5 Years                                     11%
Last 10 Years . . . . . . . . . . . . . . . . . 27%
Last 20 Years                                   60%



Annual Home Price Appreciation Rates
1984      2.01%
1985      8.36%
1986      7.38%
1987      15.32%
1988      10.11%
1989      9.15%
1990      3.93%
1991      3.86%
1992      4.49%
1993      2.42%
1994      -2.95%
1995      2.84%
1996      -0.92%
1997      0.72%
1998      2.16%
1999      -2.16%
2000      2.86%
2001      5.73%
2002      4.12%
2003      4.94%
2004      5.83%
2005      5.18%
2006      2.54%
2007      1.39%
2008      1.58%
2009      2.14%
2010      0.86%
2011      -0.58%
2012      2.12%
2013      3.82%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              2.40%         Rank: 109 of 381 (71st Percentile)
Last Year  . . . . . . . . . . . . . . . .  4.7%           Rank: 153 of 381 (60th Percentile)
Last 5 Years                              11%            Rank: 63 of 381 (83rd Percentile)
Last 10 Years  . . . . . . . . . . . .   27%            Rank: 53 of 381 (86th Percentile)
Last 20 Years                            60%            Rank: 287 of 378 (24th Percentile)


The change in home prices for Buffalo-Cheektowaga-Niagara Falls, NY are
shown above for five time periods. For example: Buffalo appreciated 2.40% in
the Last Quarter. At that rate, the Buffalo Real Estate Market was ranked 109th
out of 381 metropolitan Real Estate Markets. Buffalo was in the 71st percentile.
So Buffalo, NY performed better in the Last Quarter than 71% of the 381
metropolitan areas covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
3rd Quarter, 2014 Housing Statistics: Buffalo, New York

The data and analysis on this page pertains to Buffalo-Cheektowaga-Niagara
Falls, NY, hereinafter referred to as "Buffalo". The all time high in the Buffalo
Home Price Index was 162.3 in the 3rd Quarter, of 2014.  The Home Price Index
indicates that the Buffalo Market is up 27% over the last 10 years. Home prices
in the Buffalo Real Estate Market have gained 4.73% over the last 12 months.
Over the last thirty years, it is up 186%.

The 3rd Quarter index value was 3.81 points higher than the 2nd Quarter, 2014
index value of 158.51, resulting in a 2.40% rise in the 3rd Quarter for the
Buffalo Market.

The Buffalo Home Price Index has increased for the last 2 consecutive quarters.
The current record holders for consecutive increases in the Home Price Index
are Phoenix, AZ; Houston, TX and Boise City, ID, with increases in the last 13
consecutive quarters. The current record holder for consecutive declines in the
Home Price Index is Terre Haute, IN, with declines in the last 3 consecutive
quarters.

The highest annual change in the value of houses in the Buffalo Real Estate
Market was 30% in the twelve months ended with the 1st Quarter of 1979. The
worst annual change in home values  in the Buffalo Market was -4% in the
twelve months ended with the 1st Quarter of 1995.

The highest growth in home values in the Buffalo Real Estate Market over a
three year period was 39% in the three years ended with the 4th Quarter of
1989. The worst performance over a three year period in the Buffalo Market
was -1% in the three years ended with the 4th Quarter of 1996.

This page provides a long term graph of the Buffalo Home Price Index (above).
For information about New York home values, click Real Estate Market
Forecasts in the navigation bar at the top of this page.  You'll see long term
charts and analysis that will provide tremendous insight into the historical trends
of residential property values. Bookmark this page! Then LittleBigHomes.com's
detailed research and statistics about Buffalo 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 Buffalo 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 Buffalo Real Estate Market and hundreds of
other cities. 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
3rd Quarter, 2014 Housing Data: Buffalo, New York

The trend of Buffalo Home Prices relative to 380 other metropolitan areas is
detailed below. Each metropolitan area contains one or more cities. 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 Buffalo-Cheektowaga-Niagara Falls, NY, hereinafter referred to as "Buffalo".

Last Quarter:
During the 3rd Quarter of 2014, Buffalo Home Prices had a rank of 109, with
appreciation of 2.40%. The top performing real estate market during the 3rd
Quarter was Johnstown, PA, with a rise of 7.10%. The worst market during that
period was Farmington, NM, with appreciation of -4.09%.
The median for all cities during the 3rd Quarter was 1.44%. The average for all
markets during the quarter was 1.49%.

Last Year:
During the last 12 months, Buffalo Home Prices had a rank of 153, with
appreciation during the year of 4.73%. The top performing market during the
last year was Madera, CA, with an increase of 19.4%. The worst real estate
market during that period was Jacksonville, NC, with appreciation of -4.5%.
The median for all markets during this period was 3.94%. The average was
4.71%.

Last 5 Years:
Over the 5 years ended with the 3rd Quarter of 2014, Buffalo Home Prices
ranked 63, with a total appreciation of 11.4%. The top performing real estate
market during the 5 year period was Merced, CA, with a growth in value of 45%.
The worst market during that period was Ocala, FL, with appreciation of -16%.
The median for all cities during this time period was 1%. The average over the
5 years was 3%.

Last 10 Years:
During the 10 years ended in the 3rd Quarter of 2014, Buffalo Home Prices had
a rank of 53, with appreciation during the decade of 27%. The top performing
market during the period was Midland, TX, with a rise of 129%. The worst real
estate market during the 10 year time period was Las Vegas, NV, with
appreciation of -27%.
The median for all markets during the last 10 years was 10%. The average for
the cities over that time frame was 11%.

Last 20 Years:
During the 20 years ended in the 3rd Quarter of 2014, Buffalo Home Prices had
a rank of 287, with total growth over the 20 year period of 60%. The top
performing real estate market during the period was San Francisco, CA, with an
increase of 229%. The worst market during the last 20 years was Rockford, IL,
with appreciation of 23%.
The median for all cities during the last 20 years was 75%. The average for the
markets over that time frame was 82%.

Historical research data on the Home Price Index for the Buffalo Real Estate
Market is available back to the 2nd Quarter, of 1978. All calculations are based
on the quarterly value of the House Price Index for Buffalo. 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.)





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