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  27693
3rd Quarter, 2017 Housing Statistics: Elmira, New York


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:      DOWN
Forecast Accuracy:      62%

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 3rd Quarter of 2018 is DOWN. The Accuracy of the
Trend Projection for Elmira is 62%. In other words, when tested against
historical data, the forecasting methodology was correct 62% of the time.
Accordingly, LittleBigHomes.com estimates that the probability for falling house
prices in Elmira is 62% during this period. If this Housing Market Forecast is
correct, home prices will be lower in the 3rd Quarter of 2018 than they were in
the 3rd Quarter of 2017. Check this page each quarter for updates to the
Elmira Real Estate Market Forecast.


3 Year Forecast:          DOWN
Forecast Accuracy:      71%

The forecast for the trend in the Elmira housing market for the 3 years ending
with the 3rd Quarter of 2020 is DOWN. 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 falling house prices in
Elmira is 71% during this period. If this Housing Market Forecast is correct,
home values will be lower in the 3rd Quarter of 2020 than they were in the 3rd
Quarter of 2017. Check this page each quarter for updates to the Elmira Real
Estate Market Forecast.




Part 2: MARKET SUMMARY
3rd Quarter, 2017 Housing Data: Elmira, New York


Historical Home Price Appreciation
Last Quarter                                     0.12%
Last Year . . . . . . . . . . . . . . . . . . . .  -3.0%
Last 5 Years                                     4%
Last 10 Years . . . . . . . . . . . . . . . . . 13%
Last 20 Years                                   64%
Decline From All Time High               2.96%


Annual Home Price Appreciation Rates
1987        n/a
1988        n/a
1989        n/a
1990        n/a
1991        n/a
1992      5.50%
1993      0.17%
1994      -4.20%
1995      5.14%
1996      0.87%
1997      -1.39%
1998      1.73%
1999      0.52%
2000      5.29%
2001      6.29%
2002      5.48%
2003      1.20%
2004      6.54%
2005      1.58%
2006      6.61%
2007      1.31%
2008      3.48%
2009      3.14%
2010      1.75%
2011      1.24%
2012      2.86%
2013      0.20%
2014      5.36%
2015      -4.33%
2016      -0.19%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              0.12%         Rank: 308 of 381 (19th Percentile)
Last Year  . . . . . . . . . . . . . . . .  -3.0%          Rank: 376 of 381 (1st Percentile)
Last 5 Years                              4%              Rank: 363 of 381 (4th Percentile)
Last 10 Years  . . . . . . . . . . . .   13%            Rank: 120 of 381 (68th Percentile)
Last 20 Years                            64%            Rank: 261 of 379 (31st Percentile)
Decline From All Time High        2.96%

The change in home prices for Elmira, NY are shown above for five time
periods. For example: Elmira appreciated 0.12% in the Last Quarter. At that
rate, the Elmira Real Estate Market was ranked 308th out of 381 metropolitan
Real Estate Markets. Elmira was in the 19th percentile. So Elmira, NY performed
better in the Last Quarter than 19% of the 381 metropolitan areas covered in
LittleBigHomes.com.

























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

The all time high in the Elmira Home Price Index was 176.2 in the 3rd Quarter,
of 2016. The 3rd Quarter, 2017 index value was 171.0. That's a decline of 5.22
points or 2.96% below the Elmira Home Price Index all time high.  The Home
Price Index indicates that the Elmira Market is up 13% over the last 10 years.
Home Prices in the Elmira Real Estate Market have lost 2.96% over the last 12
months.

The 3rd Quarter index value was 0.20 points higher than the 2nd Quarter, 2017
index value of 170.76, resulting in a 0.12% rise in the 3rd Quarter for the Elmira
Market.

The Elmira Home Price Index increased in the last quarter after falling in the
previous quarter. 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 25 consecutive quarters. The current record holder for
consecutive declines in the Home Price Index is Carbondale, IL, with declines in
the last 3 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
3rd 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 3rd Quarter of 2017, Elmira Home Prices had a rank of 308, with
appreciation of 0.12%. The top performing real estate market during the 3rd
Quarter was Pine Bluff, AR, with a rise of 7.86%. The worst market during that
period was Weirton, OH, with appreciation of -9.33%.
The median for all cities during the 3rd Quarter was 1.52%. The average for all
markets during the quarter was 1.39%.

Last Year:
During the last 12 months, Elmira Home Prices had a rank of 376, with
appreciation during the year of -2.96%. The top performing market during the
last year was Seattle, WA, with an increase of 14.2%. The worst real estate
market during that period was Lawton, OK, with appreciation of -7.3%.
The median for all markets during this period was 5.41%. The average was
5.42%.

Last 5 Years:
Over the 5 years ended with the 3rd Quarter of 2017, Elmira Home Prices
ranked 363, with a total appreciation of 3.6%. The top performing real estate
market during the 5 year period was Reno, NV, with a growth in value of 95%.
The worst market during that period was Lawton, OK, with appreciation of -7%.
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 3rd Quarter of 2017, Elmira Home Prices had
a rank of 120, with appreciation during the decade of 13%. The top performing
market during the period was Denver, CO, with a rise of 63%. The worst real
estate market during the 10 year time period was Atlantic City, NJ, with
appreciation of -28%.
The median for all markets during the last 10 years was 5%. The average for
the cities over that time frame was 7%.

Last 20 Years:
During the 20 years ended in the 3rd Quarter of 2017, Elmira Home Prices had
a rank of 261, 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 283%. The worst market during the last 20 years was Mansfield,
OH, with appreciation of 20%.
The median for all cities during the last 20 years was 80%. 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, January 5, 2018.
SignalTrend  Inc. 2008 - 2018; All rights reserved.


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