Duluth, MN - House Price Index (HPI)
Duluth Real Estate Market Forecast
The House Price Index (HPI) shows changes in Duluth, MN-WI 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.
Duluth Real Estate Market: Trend Outlook, Analysis & Statistics
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Commentary  1063.56
1st Quarter, 2018 Housing Statistics: Duluth, Minnesota


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 Duluth housing market for the 12
months ending with the 1st Quarter of 2019 is UP. The Accuracy of the Trend
Projection for Duluth 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
Duluth 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 Duluth Real
Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      86%

The forecast for the trend in the Duluth housing market for the 3 years ending
with the 1st Quarter of 2021 is UP. The Accuracy of the Trend Prediction for
Duluth 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
Duluth is 86% 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 Duluth Real
Estate Market Forecast.




Part 2: MARKET SUMMARY
1st Quarter, 2018 Housing Data: Duluth, Minnesota


Historical Home Price Appreciation
Last Quarter                                     -1.60%
Last Year . . . . . . . . . . . . . . . . . . . .  2.5%
Last 5 Years                                     16%
Last 10 Years . . . . . . . . . . . . . . . . . 7%
Last 20 Years                                   107%
Decline From All Time High               1.60%


Annual Home Price Appreciation Rates
1988      4.54%
1989      9.44%
1990      2.79%
1991      8.71%
1992      7.02%
1993      6.51%
1994      0.85%
1995      7.47%
1996      3.93%
1997      6.03%
1998      5.17%
1999      6.38%
2000      10.48%
2001      8.18%
2002      9.20%
2003      10.90%
2004      7.90%
2005      8.31%
2006      2.06%
2007      1.50%
2008      -2.21%
2009      -2.48%
2010      -0.54%
2011      -1.60%
2012      -0.82%
2013      0.66%
2014      3.52%
2015      1.51%
2016      5.42%
2017      5.73%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              -1.60%        Rank: 340 of 381 (10th Percentile)
Last Year  . . . . . . . . . . . . . . . .  2.5%           Rank: 318 of 381 (16th Percentile)
Last 5 Years                              16%            Rank: 239 of 381 (37th Percentile)
Last 10 Years  . . . . . . . . . . . .   7%              Rank: 197 of 381 (48th Percentile)
Last 20 Years                            107%          Rank: 104 of 379 (72nd Percentile)
Decline From All Time High        1.60%

The change in home prices for Duluth, MN-WI are shown above for five time
periods. For example: Duluth appreciated -1.60% in the Last Quarter. At that
rate, the Duluth Real Estate Market was ranked 340th out of 381 metropolitan
Real Estate Markets. Duluth was in the 10th percentile. So Duluth, MN
performed better in the Last Quarter than 10% of the 381 metropolitan areas
covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
1st Quarter, 2018 Housing Statistics: Duluth, Minnesota

The all time high in the Duluth Home Price Index was 254.4 in the 4th Quarter,
of 2017. The 1st Quarter, 2018 index value was 250.3. That's a decline of 4.08
points or 1.60% below the Duluth Home Price Index all time high.  The Home
Price Index indicates that the Duluth Market is up 7% over the last 10 years.
Home prices in the Duluth Real Estate Market have gained 2.54% over the last
12 months. Over the last thirty years, it is up 257%.

The 1st Quarter index value was 4.08 points lower than the 4th Quarter, 2017
index value of 254.42, resulting in a 1.60% decline for the 1st Quarter in the
Duluth Market.

The Duluth Home Price Index declined in the last quarter after increasing in the
previous 17 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 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 highest annual change in the value of houses in the Duluth Real Estate
Market was 12% in the twelve months ended with the 3rd Quarter of 2004. The
worst annual change in home values  in the Duluth Market was -6% in the
twelve months ended with the 1st Quarter of 2010.

The highest growth in home values in the Duluth Real Estate Market over a
three year period was 32% in the three years ended with the 3rd Quarter of
2004. The worst performance over a three year period in the Duluth Market was
-8% in the three years ended with the 1st Quarter of 2012.

This page provides a long term graph of the Duluth Home Price Index (above).
For information about Minnesota 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 Duluth 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 Duluth 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 Duluth 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: Duluth, Minnesota

The trend of Duluth 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.

Last Quarter:
During the 1st Quarter of 2018, Duluth Home Prices had a rank of 340, with
appreciation of -1.60%. 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, Duluth Home Prices had a rank of 318, with
appreciation during the year of 2.54%. 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, Duluth Home Prices
ranked 239, with a total appreciation of 16.0%. 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, Duluth Home Prices had
a rank of 197, with appreciation during the decade of 7%. 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, Duluth Home Prices had
a rank of 104, with total growth over the 20 year period of 107%. 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 Duluth Real Estate
Market is available back to the 3rd Quarter, of 1986. All calculations are based
on the quarterly value of the House Price Index for Duluth. 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 20, 2018.
SignalTrend  Inc. 2008 - 2018; All rights reserved.


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