Grand Forks, ND - House Price Index (HPI)
The House Price Index (HPI) shows changes in Grand Forks, ND-MN 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.
Grand Forks Real Estate Market: Trend Outlook, Analysis & Statistics
Grand Forks Real Estate Market Forecast
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Commentary  1098.56
1st Quarter, 2018 Housing Statistics: Grand Forks, North Dakota


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:      DOWN
Forecast Accuracy:      81%

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 Grand Forks housing market for the 12
months ending with the 1st Quarter of 2019 is DOWN. The Accuracy of the
Trend Projection for Grand Forks is 81%. In other words, when tested against
historical data, the forecasting methodology was correct 81% of the time.
Accordingly, LittleBigHomes.com estimates that the probability for falling house
prices in Grand Forks is 81% during this period. If this Housing Market Forecast
is correct, home prices will be lower in the 1st Quarter of 2019 than they were in
the 1st Quarter of 2018. Check this page each quarter for updates to the
Grand Forks Real Estate Market Forecast.


3 Year Forecast:          DOWN
Forecast Accuracy:      89%

The forecast for the trend in the Grand Forks housing market for the 3 years
ending with the 1st Quarter of 2021 is DOWN. The Accuracy of the Trend
Prediction for Grand Forks 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 falling house
prices in Grand Forks is 89% during this period. If this Housing Market Forecast
is correct, home values will be lower in the 1st Quarter of 2021 than they were
in the 1st Quarter of 2018. Check this page each quarter for updates to the
Grand Forks Real Estate Market Forecast.




Part 2: MARKET SUMMARY
1st Quarter, 2018 Housing Data: Grand Forks, North Dakota


Historical Home Price Appreciation
Last Quarter                                     0.82%
Last Year . . . . . . . . . . . . . . . . . . . .  -0.9%
Last 5 Years                                     27%
Last 10 Years . . . . . . . . . . . . . . . . . 38%
Last 20 Years                                   113%
Decline From All Time High               3.32%


Annual Home Price Appreciation Rates
1988        n/a
1989      7.29%
1990      1.13%
1991      2.61%
1992      5.24%
1993      7.40%
1994      10.33%
1995      1.74%
1996      1.19%
1997      7.46%
1998      0.67%
1999      -1.45%
2000      3.76%
2001      4.23%
2002      4.36%
2003      6.02%
2004      9.23%
2005      9.93%
2006      3.13%
2007      4.01%
2008      1.94%
2009      -0.40%
2010      0.09%
2011      3.23%
2012      3.43%
2013      10.41%
2014      6.16%
2015      4.09%
2016      4.12%
2017      0.80%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              0.82%         Rank: 227 of 381 (40th Percentile)
Last Year  . . . . . . . . . . . . . . . .  -0.9%          Rank: 369 of 381 (3rd Percentile)
Last 5 Years                              27%            Rank: 135 of 381 (64th Percentile)
Last 10 Years  . . . . . . . . . . . .   38%            Rank: 19 of 381 (95th Percentile)
Last 20 Years                            113%          Rank: 88 of 379 (76th Percentile)
Decline From All Time High        3.32%

The change in home prices for Grand Forks, ND-MN are shown above for five
time periods. For example: Grand Forks appreciated 0.82% in the Last Quarter.
At that rate, the Grand Forks Real Estate Market was ranked 227th out of 381
metropolitan Real Estate Markets. Grand Forks was in the 40th percentile. So
Grand Forks, ND performed better in the Last Quarter than 40% of the 381
metropolitan areas covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
1st Quarter, 2018 Housing Statistics: Grand Forks, North Dakota

The all time high in the Grand Forks Home Price Index was 248.0 in the 3rd
Quarter, of 2017. The 1st Quarter, 2018 index value was 239.7. That's a
decline of 8.23 points or 3.32% below the Grand Forks Home Price Index all
time high.  The Home Price Index indicates that the Grand Forks Market is up
38% over the last 10 years. Home Prices in the Grand Forks Real Estate
Market have lost 0.89% over the last 12 months.

The 1st Quarter index value was 1.94 points higher than the 4th Quarter, 2017
index value of 237.79, resulting in a 0.82% rise in the 1st Quarter for the Grand
Forks Market.

The Grand Forks 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 27 consecutive 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 highest annual change in the value of houses in the Grand Forks Real
Estate Market was 14% in the twelve months ended with the 2nd Quarter of
1994. The worst annual change in home values  in the Grand Forks Market was
-3% in the twelve months ended with the 2nd Quarter of 1997.

The highest growth in home values in the Grand Forks Real Estate Market over
a three year period was 28% in the three years ended with the 1st Quarter of
2006. The worst performance over a three year period in the Grand Forks
Market was 0% in the three years ended with the 1st Quarter of 2011.

This page provides a long term graph of the Grand Forks Home Price Index
(above). For information about North Dakota 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 Grand Forks 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 Grand Forks 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 Grand Forks 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: Grand Forks, North Dakota

The trend of Grand Forks 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, Grand Forks Home Prices had a rank of 227,
with appreciation of 0.82%. 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, Grand Forks Home Prices had a rank of 369, with
appreciation during the year of -0.89%. 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, Grand Forks Home Prices
ranked 135, with a total appreciation of 26.6%. 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, Grand Forks Home
Prices had a rank of 19, with appreciation during the decade of 38%. 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, Grand Forks Home
Prices had a rank of 88, with total growth over the 20 year period of 113%. 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 Grand Forks Real
Estate Market is available back to the 1st Quarter, of 1990. All calculations are
based on the quarterly value of the House Price Index for Grand Forks. 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, June 29, 2018.
SignalTrend  Inc. 2008 - 2018; All rights reserved.


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