Farmington, NM - House Price Index (HPI)
Farmington Real Estate Market Forecast
The House Price Index (HPI) shows changes in Farmington, NM 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.
Farmington Real Estate Market: Trend Outlook, Analysis & Statistics
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Commentary  27699
3rd Quarter, 2017 Housing Statistics: Farmington, New Mexico


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:      DOWN
Forecast Accuracy:      79%

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 Farmington housing market for the 12
months ending with the 3rd Quarter of 2018 is DOWN. The Accuracy of the
Trend Projection for Farmington is 79%. In other words, when tested against
historical data, the forecasting methodology was correct 79% of the time.
Accordingly, LittleBigHomes.com estimates that the probability for falling house
prices in Farmington is 79% 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
Farmington Real Estate Market Forecast.


3 Year Forecast:          DOWN
Forecast Accuracy:      78%

The forecast for the trend in the Farmington housing market for the 3 years
ending with the 3rd Quarter of 2020 is DOWN. The Accuracy of the Trend
Prediction for Farmington is 78%. In other words, when tested against historical
data, the forecasting methodology was correct 78% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for falling house prices in
Farmington is 78% 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 Farmington
Real Estate Market Forecast.




Part 2: MARKET SUMMARY
3rd Quarter, 2017 Housing Data: Farmington, New Mexico


Historical Home Price Appreciation
Last Quarter                                     -0.94%
Last Year . . . . . . . . . . . . . . . . . . . .  -0.9%
Last 5 Years                                     3%
Last 10 Years . . . . . . . . . . . . . . . . . -7%
Last 20 Years                                   76%
Decline From All Time High               9.27%


Annual Home Price Appreciation Rates
1987      -6.75%
1988      -2.25%
1989      1.22%
1990      -1.47%
1991      8.11%
1992      7.89%
1993      6.64%
1994      8.09%
1995      7.13%
1996      4.64%
1997      3.12%
1998      3.57%
1999      4.79%
2000      1.63%
2001      4.70%
2002      6.10%
2003      8.89%
2004      10.52%
2005      14.73%
2006      9.61%
2007      1.98%
2008      -1.17%
2009      -1.76%
2010      -2.39%
2011      -3.39%
2012      -0.08%
2013      0.68%
2014      -0.13%
2015      0.47%
2016      1.52%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              -0.94%        Rank: 344 of 381 (9th Percentile)
Last Year  . . . . . . . . . . . . . . . .  -0.9%          Rank: 362 of 381 (5th Percentile)
Last 5 Years                              3%              Rank: 366 of 381 (3rd Percentile)
Last 10 Years  . . . . . . . . . . . .   -7%            Rank: 310 of 381 (18th Percentile)
Last 20 Years                            76%            Rank: 208 of 379 (45th Percentile)
Decline From All Time High        9.27%

The change in home prices for Farmington, NM are shown above for five time
periods. For example: Farmington appreciated -0.94% in the Last Quarter. At
that rate, the Farmington Real Estate Market was ranked 344th out of 381
metropolitan Real Estate Markets. Farmington was in the 9th percentile. So
Farmington, NM performed better in the Last Quarter than 9% of the 381
metropolitan areas covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
3rd Quarter, 2017 Housing Statistics: Farmington, New Mexico

The all time high in the Farmington Home Price Index was 226.6 in the 1st
Quarter, of 2008. The 3rd Quarter, 2017 index value was 205.6. That's a
decline of 21.00 points or 9.27% below the Farmington Home Price Index all
time high.  The Home Price Index indicates that the Farmington Market is down
7% over the last 10 years. Home Prices in the Farmington Real Estate Market
have lost 0.95% over the last 12 months. Over the last thirty years, it is up
165%.

The 3rd Quarter index value was 1.96 points lower than the 2nd Quarter, 2017
index value of 207.56, resulting in a 0.94% decline for the 3rd Quarter in the
Farmington Market.

The Farmington Home Price Index has declined for the last 2 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
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 highest annual change in the value of houses in the Farmington Real
Estate Market was 16% in the twelve months ended with the 2nd Quarter of
2005. The worst annual change in home values  in the Farmington Market was
-12% in the twelve months ended with the 1st Quarter of 1988.

The highest growth in home values in the Farmington Real Estate Market over
a three year period was 41% in the three years ended with the 2nd Quarter of
2006. The worst performance over a three year period in the Farmington
Market was -12% in the three years ended with the 2nd Quarter of 1989.

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

The trend of Farmington 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, Farmington Home Prices had a rank of 344,
with appreciation of -0.94%. 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, Farmington Home Prices had a rank of 362, with
appreciation during the year of -0.95%. 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, Farmington Home Prices
ranked 366, with a total appreciation of 3.0%. 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, Farmington Home Prices
had a rank of 310, with appreciation during the decade of -7%. 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, Farmington Home Prices
had a rank of 208, with total growth over the 20 year period of 76%. 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 Farmington Real
Estate Market is available back to the 2nd Quarter, of 1985. All calculations are
based on the quarterly value of the House Price Index for Farmington. 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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