Detroit, MI - House Price Index (HPI)
Detroit Real Estate Market Forecast
The House Price Index (HPI) shows changes in Detroit-Livonia-Dearborn, MI 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.
Detroit Real Estate Market: Trend Outlook, Analysis & Statistics
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Commentary  297.56
4th Quarter, 2017 Housing Statistics: Detroit, Michigan


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:        UP
Forecast Accuracy:      89%

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 Detroit housing market for the 12
months ending with the 4th Quarter of 2018 is UP. The Accuracy of the Trend
Projection for Detroit is 89%. In other words, when tested against historical
data, the forecasting methodology was correct 89% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in
Detroit is 89% 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 Detroit Real
Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      75%

The forecast for the trend in the Detroit housing market for the 3 years ending
with the 4th Quarter of 2020 is UP. The Accuracy of the Trend Prediction for
Detroit is 75%. In other words, when tested against historical data, the
forecasting methodology was correct 75% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in
Detroit is 75% 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 Detroit Real
Estate Market Forecast.




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


Historical Home Price Appreciation
Last Quarter                                     0.52%
Last Year . . . . . . . . . . . . . . . . . . . .  7.5%
Last 5 Years                                     45%
Last 10 Years . . . . . . . . . . . . . . . . . 4%
Last 20 Years                                   34%
Decline From All Time High               9.79%


Annual Home Price Appreciation Rates
1988      8.49%
1989      7.49%
1990      4.47%
1991      5.13%
1992      2.92%
1993      2.83%
1994      4.43%
1995      8.60%
1996      9.10%
1997      8.32%
1998      7.49%
1999      9.17%
2000      7.63%
2001      5.85%
2002      3.99%
2003      3.42%
2004      2.34%
2005      0.49%
2006      -3.70%
2007      -9.48%
2008      -17.38%
2009      -11.15%
2010      -1.97%
2011      -2.55%
2012      2.88%
2013      9.44%
2014      9.08%
2015      5.96%
2016      6.28%
2017      7.50%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              0.52%         Rank: 211 of 381 (44th Percentile)
Last Year  . . . . . . . . . . . . . . . .  7.5%           Rank: 108 of 381 (71st Percentile)
Last 5 Years                              45%            Rank: 72 of 381 (81st Percentile)
Last 10 Years  . . . . . . . . . . . .   4%              Rank: 217 of 381 (43rd Percentile)
Last 20 Years                            34%            Rank: 359 of 379 (5th Percentile)
Decline From All Time High        9.79%

The change in home prices for Detroit-Dearborn-Livonia, MI are shown above
for five time periods. For example: Detroit appreciated 0.52% in the Last
Quarter. At that rate, the Detroit Real Estate Market was ranked 211th out of
381 metropolitan Real Estate Markets. Detroit was in the 44th percentile. So
Detroit, MI performed better in the Last Quarter than 44% of the 381
metropolitan areas covered in LittleBigHomes.com.

























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

The data and analysis on this page pertains to Detroit-Dearborn-Livonia, MI,
hereinafter referred to as "Detroit". The all time high in the Detroit Home Price
Index was 187.5 in the 3rd Quarter, of 2005. The 4th Quarter, 2017 index value
was 169.1. That's a decline of 18.35 points or 9.79% below the Detroit Home
Price Index all time high.  The Home Price Index indicates that the Detroit
Market is up 4% over the last 10 years. Home prices in the Detroit Real Estate
Market have gained 7.50% over the last 12 months. Over the last thirty years, it
is up 144%.

The 4th Quarter index value was 0.88 points higher than the 3rd Quarter, 2017
index value of 168.22, resulting in a 0.52% rise in the 4th Quarter for the Detroit
Market.

The Detroit Home Price Index has increased for the last 11 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 26 consecutive quarters. The current record holders for consecutive
declines in the Home Price Index are Victoria, TX; Topeka, KS; Texarkana,
TX-AR; Springfield, MA and Peoria, IL, with declines in the last 2 consecutive
quarters.

The highest annual change in the value of houses in the Detroit Real Estate
Market was 25% in the twelve months ended with the 1st Quarter of 1979. The
worst annual change in home values  in the Detroit Market was -19% in the
twelve months ended with the 4th Quarter of 1982.

The highest growth in home values in the Detroit Real Estate Market over a
three year period was 35% in the three years ended with the 3rd Quarter of
1988. The worst performance over a three year period in the Detroit Market
was -34% in the three years ended with the 4th Quarter of 2009.

This page provides a long term graph of the Detroit Home Price Index (above).
For information about Michigan 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 Detroit 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 Detroit 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 Detroit 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
4th Quarter, 2017 Housing Data: Detroit, Michigan

The trend of Detroit 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 Detroit-Dearborn-Livonia, MI, hereinafter referred to as "Detroit".

Last Quarter:
During the 4th Quarter of 2017, Detroit Home Prices had a rank of 211, with
appreciation of 0.52%. The top performing real estate market during the 4th
Quarter was Gadsden, AL, with a rise of 13.11%. The worst market during that
period was Hinesville, GA, with appreciation of -6.79%.
The median for all cities during the 4th Quarter was 0.75%. The average for all
markets during the quarter was 0.69%.

Last Year:
During the last 12 months, Detroit Home Prices had a rank of 108, with
appreciation during the year of 7.50%. The top performing market during the
last year was Sebastian, FL, with an increase of 16.4%. The worst real estate
market during that period was Goldsboro, NC, with appreciation of -6.9%.
The median for all markets during this period was 5.37%. The average was
5.53%.

Last 5 Years:
Over the 5 years ended with the 4th Quarter of 2017, Detroit Home Prices
ranked 72, with a total appreciation of 44.5%. The top performing real estate
market during the 5 year period was Reno, NV, with a growth in value of 94%.
The worst market during that period was Goldsboro, NC, with appreciation of
-5%.
The median for all cities during this time period was 19%. The average over the
5 years was 25%.

Last 10 Years:
During the 10 years ended in the 4th Quarter of 2017, Detroit Home Prices had
a rank of 217, with appreciation during the decade of 4%. The top performing
market during the period was Denver, CO, with a rise of 65%. The worst real
estate market during the 10 year time period was Atlantic City, NJ, with
appreciation of -27%.
The median for all markets during the last 10 years was 7%. The average for
the cities over that time frame was 8%.

Last 20 Years:
During the 20 years ended in the 4th Quarter of 2017, Detroit Home Prices had
a rank of 359, with total growth over the 20 year period of 34%. The top
performing real estate market during the period was San Francisco, CA, with an
increase of 280%. The worst market during the last 20 years was Saginaw, MI,
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 89%.

Historical research data on the Home Price Index for the Detroit Real Estate
Market is available back to the 3rd Quarter, of 1976. All calculations are based
on the quarterly value of the House Price Index for Detroit. 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, March 21, 2018.
SignalTrend  Inc. 2008 - 2018; All rights reserved.


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