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  336.56
4th Quarter, 2017 Housing Statistics: Grand Forks, North Dakota


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:        UP
Forecast Accuracy:      82%

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 4th Quarter of 2018 is UP. The Accuracy of the Trend
Projection for Grand Forks is 82%. In other words, when tested against
historical data, the forecasting methodology was correct 82% of the time.
Accordingly, LittleBigHomes.com estimates that the probability for rising house
prices in Grand Forks is 82% during this period. If this Housing Market Forecast
is correct, home prices will be higher in the 4th Quarter of 2018 than they were
in the 4th Quarter of 2017. Check this page each quarter for updates to the
Grand Forks Real Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      89%

The forecast for the trend in the Grand Forks housing market for the 3 years
ending with the 4th Quarter of 2020 is UP. 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 rising house
prices in Grand Forks is 89% during this period. If this Housing Market Forecast
is correct, home values will be higher in the 4th Quarter of 2020 than they were
in the 4th Quarter of 2017. Check this page each quarter for updates to the
Grand Forks Real Estate Market Forecast.




Part 2: MARKET SUMMARY
4th Quarter, 2017 Housing Data: Grand Forks, North Dakota


Historical Home Price Appreciation
Last Quarter                                     -4.40%
Last Year . . . . . . . . . . . . . . . . . . . .  0.4%
Last 5 Years                                     28%
Last 10 Years . . . . . . . . . . . . . . . . . 39%
Last 20 Years                                   112%
Decline From All Time High               4.40%


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      7.47%
1998      0.66%
1999      -1.44%
2000      3.75%
2001      4.22%
2002      4.37%
2003      6.02%
2004      9.23%
2005      9.91%
2006      3.13%
2007      3.99%
2008      2.01%
2009      -0.44%
2010      0.02%
2011      3.35%
2012      3.37%
2013      10.36%
2014      5.92%
2015      4.41%
2016      4.17%
2017      0.42%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              -4.40%        Rank: 375 of 381 (1st Percentile)
Last Year  . . . . . . . . . . . . . . . .  0.4%           Rank: 353 of 381 (7th Percentile)
Last 5 Years                              28%            Rank: 125 of 381 (67th Percentile)
Last 10 Years  . . . . . . . . . . . .   39%            Rank: 15 of 381 (96th Percentile)
Last 20 Years                            112%          Rank: 95 of 379 (75th Percentile)
Decline From All Time High        4.40%

The change in home prices for Grand Forks, ND-MN are shown above for five
time periods. For example: Grand Forks appreciated -4.40% in the Last
Quarter. At that rate, the Grand Forks Real Estate Market was ranked 375th
out of 381 metropolitan Real Estate Markets. Grand Forks was in the 1st
percentile. So Grand Forks, ND performed better in the Last Quarter than 1%
of the 381 metropolitan areas covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
4th Quarter, 2017 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 4th Quarter, 2017 index value was 237.1. That's a
decline of 10.91 points or 4.40% below the Grand Forks Home Price Index all
time high.  The Home Price Index indicates that the Grand Forks Market is up
39% over the last 10 years. Home prices in the Grand Forks Real Estate Market
have gained 0.42% over the last 12 months.

The 4th Quarter index value was 10.91 points lower than the 3rd Quarter, 2017
index value of 248.01, resulting in a 4.40% decline for the 4th Quarter in the
Grand Forks Market.

The Grand Forks Home Price Index declined in the last quarter after increasing
in the previous 3 quarters. The current record holders for consecutive declines
in the Home Price Index are Victoria, TX; Topeka, KS; Texarkana, TX-AR;
Springfield, MA and Peoria, IL, with declines in the last 2 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 26
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
4th Quarter, 2017 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 4th Quarter of 2017, Grand Forks Home Prices had a rank of 375,
with appreciation of -4.40%. The top performing real estate market during the
4th Quarter was Gadsden, AL, with a rise of 13.11%. The worst market during
that period was Hinesville, GA, with appreciation of -6.79%.
The median for all cities during the 4th Quarter was 0.75%. The average for all
markets during the quarter was 0.69%.

Last Year:
During the last 12 months, Grand Forks Home Prices had a rank of 353, with
appreciation during the year of 0.42%. The top performing market during the
last year was Sebastian, FL, with an increase of 16.4%. The worst real estate
market during that period was Goldsboro, NC, with appreciation of -6.9%.
The median for all markets during this period was 5.37%. The average was
5.53%.

Last 5 Years:
Over the 5 years ended with the 4th Quarter of 2017, Grand Forks Home Prices
ranked 125, with a total appreciation of 27.7%. The top performing real estate
market during the 5 year period was Reno, NV, with a growth in value of 94%.
The worst market during that period was Goldsboro, NC, with appreciation of
-5%.
The median for all cities during this time period was 19%. The average over the
5 years was 25%.

Last 10 Years:
During the 10 years ended in the 4th Quarter of 2017, Grand Forks Home
Prices had a rank of 15, with appreciation during the decade of 39%. The top
performing market during the period was Denver, CO, with a rise of 65%. The
worst real estate market during the 10 year time period was Atlantic City, NJ,
with appreciation of -27%.
The median for all markets during the last 10 years was 7%. The average for
the cities over that time frame was 8%.

Last 20 Years:
During the 20 years ended in the 4th Quarter of 2017, Grand Forks Home
Prices had a rank of 95, with total growth over the 20 year period of 112%. The
top performing real estate market during the period was San Francisco, CA,
with an increase of 280%. The worst market during the last 20 years was
Saginaw, MI, 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 89%.

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 Tuesday, March 27, 2018.
SignalTrend  Inc. 2008 - 2018; All rights reserved.


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