Chicago, IL - House Price Index (HPI)
Chicago Real Estate Market Forecast
The House Price Index (HPI) changes in Chicago-Naperville-Joliet, IL 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.
Chicago Real Estate Market: Trend Outlook, Analysis & Statistics
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Commentary  1031.56
1st Quarter, 2018 Housing Statistics: Chicago, Illinois


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:        UP
Forecast Accuracy:      90%

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 Chicago housing market for the 12
months ending with the 1st Quarter of 2019 is UP. The Accuracy of the Trend
Projection for Chicago is 90%. In other words, when tested against historical
data, the forecasting methodology was correct 90% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in
Chicago is 90% during this period. If this Housing Market Forecast is correct,
home prices will be higher in the 1st Quarter of 2019 than they were in the 1st
Quarter of 2018. Check this page each quarter for updates to the Chicago Real
Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      83%

The forecast for the trend in the Chicago housing market for the 3 years ending
with the 1st Quarter of 2021 is UP. The Accuracy of the Trend Prediction for
Chicago is 83%. In other words, when tested against historical data, the
forecasting methodology was correct 83% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in
Chicago is 83% during this period. If this Housing Market Forecast is correct,
home values will be higher in the 1st Quarter of 2021 than they were in the 1st
Quarter of 2018. Check this page each quarter for updates to the Chicago Real
Estate Market Forecast.




Part 2: MARKET SUMMARY
1st Quarter, 2018 Housing Data: Chicago, Illinois


Historical Home Price Appreciation
Last Quarter                                     0.71%
Last Year . . . . . . . . . . . . . . . . . . . .  4.5%
Last 5 Years                                     24%
Last 10 Years . . . . . . . . . . . . . . . . . -9%
Last 20 Years                                   64%
Decline From All Time High               11.20%


Annual Home Price Appreciation Rates
1988      9.25%
1989      8.13%
1990      3.69%
1991      4.53%
1992      3.47%
1993      3.44%
1994      3.13%
1995      4.47%
1996      2.38%
1997      3.68%
1998      3.17%
1999      6.00%
2000      7.99%
2001      6.92%
2002      7.31%
2003      7.85%
2004      9.92%
2005      10.44%
2006      4.71%
2007      -0.78%
2008      -8.07%
2009      -9.75%
2010      -4.21%
2011      -6.25%
2012      -1.99%
2013      2.99%
2014      5.05%
2015      3.70%
2016      4.24%
2017      4.58%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              0.71%         Rank: 235 of 381 (38th Percentile)
Last Year  . . . . . . . . . . . . . . . .  4.5%           Rank: 258 of 381 (32nd Percentile)
Last 5 Years                              24%            Rank: 152 of 381 (60th Percentile)
Last 10 Years  . . . . . . . . . . . .   -9%            Rank: 347 of 381 (8th Percentile)
Last 20 Years                            64%            Rank: 254 of 379 (33rd Percentile)
Decline From All Time High        11.20%

The change in home prices for Chicago-Naperville-Arlington Heights, IL are
shown above for five time periods. For example: Chicago appreciated 0.71% in
the Last Quarter. At that rate, the Chicago Real Estate Market was ranked
235th out of 381 metropolitan Real Estate Markets. Chicago was in the 38th
percentile. So Chicago, IL performed better in the Last Quarter than 38% of the
381 metropolitan areas covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
1st Quarter, 2018 Housing Statistics: Chicago, Illinois

The data and analysis on this page pertains to Chicago-Naperville-Arlington
Heights, IL, hereinafter referred to as "Chicago". The all time high in the
Chicago Home Price Index was 205.3 in the 1st Quarter, of 2007. The 1st
Quarter, 2018 index value was 182.3. That's a decline of 22.99 points or
11.20% below the Chicago Home Price Index all time high.  The Home Price
Index indicates that the Chicago Market is down 9% over the last 10 years.
Home prices in the Chicago Real Estate Market have gained 4.51% over the
last 12 months. Over the last thirty years, it is up 154%.

The 1st Quarter index value was 1.29 points higher than the 4th Quarter, 2017
index value of 180.97, resulting in a 0.71% rise in the 1st Quarter for the
Chicago Market.

The Chicago Home Price Index has increased for the last 20 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 27 consecutive quarters. The current record holders for consecutive
declines in the Home Price Index are Tallahassee, FL; Syracuse, NY; Sioux City,
IA; Shreveport, LA and Peoria, IL, with declines in the last 3 consecutive
quarters.

The highest annual change in the value of houses in the Chicago Real Estate
Market was 21% in the twelve months ended with the 2nd Quarter of 1977. The
worst annual change in home values  in the Chicago Market was -11% in the
twelve months ended with the 1st Quarter of 2010.

The highest growth in home values in the Chicago Real Estate Market over a
three year period was 35% in the three years ended with the 2nd Quarter of
1989. The worst performance over a three year period in the Chicago Market
was -23% in the three years ended with the 2nd Quarter of 2011.

This page provides a long term graph of the Chicago Home Price Index
(above). For information about Illinois 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 Chicago 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 Chicago 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 Chicago 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
1st Quarter, 2018 Housing Data: Chicago, Illinois

The trend of Chicago 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 Chicago-Naperville-Arlington Heights, IL, hereinafter referred to as "Chicago".

Last Quarter:
During the 1st Quarter of 2018, Chicago Home Prices had a rank of 235, with
appreciation of 0.71%. The top performing real estate market during the 1st
Quarter was Goldsboro, NC, with a rise of 9.78%. The worst market during that
period was Cumberland, MD, with appreciation of -9.30%.
The median for all cities during the 1st Quarter was 1.15%. The average for all
markets during the quarter was 0.97%.

Last Year:
During the last 12 months, Chicago Home Prices had a rank of 258, with
appreciation during the year of 4.51%. The top performing market during the
last year was Boise City, ID, with an increase of 15.3%. The worst real estate
market during that period was Farmington, NM, with appreciation of -6.0%.
The median for all markets during this period was 5.97%. The average was
5.82%.

Last 5 Years:
Over the 5 years ended with the 1st Quarter of 2018, Chicago Home Prices
ranked 152, with a total appreciation of 23.6%. The top performing real estate
market during the 5 year period was Reno, NV, with a growth in value of 90%.
The worst market during that period was Farmington, NM, with appreciation of
-4%.
The median for all cities during this time period was 20%. The average over the
5 years was 26%.

Last 10 Years:
During the 10 years ended in the 1st Quarter of 2018, Chicago Home Prices
had a rank of 347, with appreciation during the decade of -9%. The top
performing market during the period was Denver, CO, with a rise of 69%. The
worst real estate market during the 10 year time period was Atlantic City, NJ,
with appreciation of -26%.
The median for all markets during the last 10 years was 8%. The average for
the cities over that time frame was 9%.

Last 20 Years:
During the 20 years ended in the 1st Quarter of 2018, Chicago Home Prices
had a rank of 254, with total growth over the 20 year period of 64%. The top
performing real estate market during the period was San Francisco, CA, with an
increase of 282%. The worst market during the last 20 years was Rockford, IL,
with appreciation of 18%.
The median for all cities during the last 20 years was 79%. The average for the
markets over that time frame was 88%.

Historical research data on the Home Price Index for the Chicago Real Estate
Market is available back to the 3rd Quarter, of 1975. All calculations are based
on the quarterly value of the House Price Index for Chicago. 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, June 13, 2018.
SignalTrend  Inc. 2008 - 2018; All rights reserved.


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