Elmira, NY - House Price Index (HPI)
Elmira Real Estate Market Forecast
The House Price Index (HPI) shows changes in Elmira, NY 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.
Elmira Real Estate Market: Trend Outlook, Analysis & Statistics
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Commentary  26931
2nd Quarter, 2017 Housing Statistics: Elmira, New York


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:        UP
Forecast Accuracy:      61%

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 Elmira housing market for the 12
months ending with the 2nd Quarter of 2018 is UP. The Accuracy of the Trend
Projection for Elmira is 61%. In other words, when tested against historical data,
the forecasting methodology was correct 61% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in
Elmira is 61% 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 Elmira Real
Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      71%

The forecast for the trend in the Elmira housing market for the 3 years ending
with the 2nd Quarter of 2020 is UP. The Accuracy of the Trend Prediction for
Elmira is 71%. In other words, when tested against historical data, the
forecasting methodology was correct 71% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in
Elmira is 71% 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 Elmira Real
Estate Market Forecast.




Part 2: MARKET SUMMARY
2nd Quarter, 2017 Housing Data: Elmira, New York


Historical Home Price Appreciation
Last Quarter                                     -2.96%
Last Year . . . . . . . . . . . . . . . . . . . .  2.2%
Last 5 Years                                     3%
Last 10 Years . . . . . . . . . . . . . . . . . 9%
Last 20 Years                                   63%
Decline From All Time High               6.57%


Annual Home Price Appreciation Rates
1987        n/a
1988        n/a
1989        n/a
1990        n/a
1991        n/a
1992      5.57%
1993      0.08%
1994      -4.16%
1995      5.14%
1996      0.86%
1997      -1.38%
1998      1.74%
1999      0.50%
2000      5.31%
2001      6.30%
2002      5.48%
2003      1.10%
2004      6.65%
2005      1.58%
2006      6.60%
2007      1.35%
2008      3.45%
2009      3.19%
2010      1.69%
2011      1.32%
2012      2.79%
2013      0.07%
2014      7.32%
2015      -6.21%
2016      0.13%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              -2.96%        Rank: 377 of 381 (1st Percentile)
Last Year  . . . . . . . . . . . . . . . .  2.2%           Rank: 312 of 381 (18th Percentile)
Last 5 Years                              3%              Rank: 361 of 381 (5th Percentile)
Last 10 Years  . . . . . . . . . . . .   9%              Rank: 141 of 381 (63rd Percentile)
Last 20 Years                            63%            Rank: 269 of 379 (29th Percentile)
Decline From All Time High        6.57%

The change in home prices for Elmira, NY are shown above for five time
periods. For example: Elmira appreciated -2.96% in the Last Quarter. At that
rate, the Elmira Real Estate Market was ranked 377th out of 381 metropolitan
Real Estate Markets. Elmira was in the 1st percentile. So Elmira, NY performed
better in the Last Quarter than 1% of the 381 metropolitan areas covered in
LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
2nd Quarter, 2017 Housing Statistics: Elmira, New York

The all time high in the Elmira Home Price Index was 179.1 in the 4th Quarter,
of 2014. The 2nd Quarter, 2017 index value was 167.3. That's a decline of
11.76 points or 6.57% below the Elmira Home Price Index all time high.  The
Home Price Index indicates that the Elmira Market is up 9% over the last 10
years. Home prices in the Elmira Real Estate Market have gained 2.19% over
the last 12 months.

The 2nd Quarter index value was 5.11 points lower than the 1st Quarter, 2017
index value of 172.41, resulting in a 2.96% decline for the 2nd Quarter in the
Elmira Market.

The Elmira Home Price Index declined in the last quarter after increasing in the
previous quarter. The current record holders for consecutive declines in the
Home Price Index are Manhattan, KS and Longview, TX, 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 24 consecutive quarters.

The highest annual change in the value of houses in the Elmira Real Estate
Market was 11% in the twelve months ended with the 1st Quarter of 1992. The
worst annual change in home values  in the Elmira Market was -8% in the twelve
months ended with the 2nd Quarter of 1995.

The highest growth in home values in the Elmira Real Estate Market over a
three year period was 21% in the three years ended with the 2nd Quarter of
2006. The worst performance over a three year period in the Elmira Market was
-7% in the three years ended with the 2nd Quarter of 1995.

This page provides a long term graph of the Elmira 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 Elmira 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 Elmira 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 Elmira 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
2nd Quarter, 2017 Housing Data: Elmira, New York

The trend of Elmira 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 2nd Quarter of 2017, Elmira Home Prices had a rank of 377, with
appreciation of -2.96%. The top performing real estate market during the 2nd
Quarter was Weirton, OH, with a rise of 14.58%. The worst market during that
period was Bangor, ME, with appreciation of -4.77%.
The median for all cities during the 2nd Quarter was 2.58%. The average for all
markets during the quarter was 2.50%.

Last Year:
During the last 12 months, Elmira Home Prices had a rank of 312, with
appreciation during the year of 2.19%. The top performing market during the
last year was Mount Vernon, WA, with an increase of 15.1%. The worst real
estate market during that period was Pine Bluff, AR, with appreciation of -7.9%.
The median for all markets during this period was 5.39%. The average was
5.53%.

Last 5 Years:
Over the 5 years ended with the 2nd Quarter of 2017, Elmira Home Prices
ranked 361, with a total appreciation of 3.4%. The top performing real estate
market during the 5 year period was Reno, NV, with a growth in value of 93%.
The worst market during that period was Jacksonville, NC, with appreciation of
-3%.
The median for all cities during this time period was 18%. The average over the
5 years was 25%.

Last 10 Years:
During the 10 years ended in the 2nd Quarter of 2017, Elmira Home Prices had
a rank of 141, with appreciation during the decade of 9%. The top performing
market during the period was Austin, TX, with a rise of 62%. The worst real
estate market during the 10 year time period was Atlantic City, NJ, with
appreciation of -29%.
The median for all markets during the last 10 years was 4%. The average for
the cities over that time frame was 5%.

Last 20 Years:
During the 20 years ended in the 2nd Quarter of 2017, Elmira Home Prices had
a rank of 269, with total growth over the 20 year period of 63%. The top
performing real estate market during the period was San Francisco, CA, with an
increase of 289%. The worst market during the last 20 years was Saginaw, MI,
with appreciation of 20%.
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 Elmira Real Estate
Market is available back to the 4th Quarter, of 1991. All calculations are based
on the quarterly value of the House Price Index for Elmira. 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 Friday, November 17, 2017.
SignalTrend  Inc. 2008 - 2017; All rights reserved.


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