Grand Rapids, MI - House Price Index (HPI)
Grand Rapids Real Estate Market Forecast
The House Price Index (HPI) shows changes in Grand Rapids-Wyoming, MI 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 Rapids Real Estate Market: Trend Outlook, Analysis & Statistics
100
1000
10
Commentary  27722
3rd Quarter, 2017 Housing Statistics: Grand Rapids, Michigan


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:        UP
Forecast Accuracy:      89%

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 Rapids housing market for the
12 months ending with the 3rd Quarter of 2018 is UP. The Accuracy of the
Trend Projection for Grand Rapids 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 Rapids is 89% during this period. If this Housing Market
Forecast is correct, home prices will be higher in the 3rd Quarter of 2018 than
they were in the 3rd Quarter of 2017. Check this page each quarter for updates
to the Grand Rapids Real Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      86%

The forecast for the trend in the Grand Rapids housing market for the 3 years
ending with the 3rd Quarter of 2020 is UP. The Accuracy of the Trend
Prediction for Grand Rapids is 86%. In other words, when tested against
historical data, the forecasting methodology was correct 86% of the time.
Accordingly, LittleBigHomes.com estimates that the probability for rising house
prices in Grand Rapids is 86% during this period. If this Housing Market
Forecast is correct, home values will be higher in the 3rd Quarter of 2020 than
they were in the 3rd Quarter of 2017. Check this page each quarter for updates
to the Grand Rapids Real Estate Market Forecast.




Part 2: MARKET SUMMARY
3rd Quarter, 2017 Housing Data: Grand Rapids, Michigan


Historical Home Price Appreciation
Last Quarter                                     2.70%
Last Year . . . . . . . . . . . . . . . . . . . .  10.5%
Last 5 Years                                     46%
Last 10 Years . . . . . . . . . . . . . . . . . 25%
Last 20 Years                                   70%



Annual Home Price Appreciation Rates
1987      8.38%
1988      7.74%
1989      6.25%
1990      3.59%
1991      3.71%
1992      1.90%
1993      2.21%
1994      6.79%
1995      5.83%
1996      6.97%
1997      5.55%
1998      4.09%
1999      6.48%
2000      5.79%
2001      4.83%
2002      3.79%
2003      3.78%
2004      3.92%
2005      2.44%
2006      -1.26%
2007      -3.37%
2008      -6.50%
2009      -5.41%
2010      -1.35%
2011      -2.20%
2012      1.00%
2013      5.45%
2014      7.51%
2015      7.16%
2016      7.67%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              2.70%         Rank: 81 of 381 (78th Percentile)
Last Year  . . . . . . . . . . . . . . . .  10.5%          Rank: 28 of 381 (92nd Percentile)
Last 5 Years                              46%            Rank: 68 of 381 (82nd Percentile)
Last 10 Years  . . . . . . . . . . . .   25%            Rank: 41 of 381 (89th Percentile)
Last 20 Years                            70%            Rank: 238 of 379 (37th Percentile)


The change in home prices for Grand Rapids-Wyoming, MI are shown above
for five time periods. For example: Grand Rapids appreciated 2.70% in the Last
Quarter. At that rate, the Grand Rapids Real Estate Market was ranked 81st out
of 381 metropolitan Real Estate Markets. Grand Rapids was in the 78th
percentile. So Grand Rapids, MI performed better in the Last Quarter than 78%
of the 381 metropolitan areas covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
3rd Quarter, 2017 Housing Statistics: Grand Rapids, Michigan

The data and analysis on this page pertains to Grand Rapids-Wyoming, MI,
hereinafter referred to as "Grand Rapids". The all time high in the Grand
Rapids Home Price Index was 197.8 in the 3rd Quarter, of 2017.  The Home
Price Index indicates that the Grand Rapids Market is up 25% over the last 10
years. Home prices in the Grand Rapids Real Estate Market have gained
10.45% over the last 12 months. Over the last thirty years, it is up 177%.

The 3rd Quarter index value was 5.20 points higher than the 2nd Quarter, 2017
index value of 192.64, resulting in a 2.70% rise in the 3rd Quarter for the Grand
Rapids Market.

The Grand Rapids Home Price Index has increased for 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 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 Grand Rapids Real
Estate Market was 16% in the twelve months ended with the 3rd Quarter of
1979. The worst annual change in home values  in the Grand Rapids Market
was -8% in the twelve months ended with the 1st Quarter of 2010.

The highest growth in home values in the Grand Rapids Real Estate Market
over a three year period was 28% in the three years ended with the 3rd Quarter
of 2017. The worst performance over a three year period in the Grand Rapids
Market was -16% in the three years ended with the 1st Quarter of 2011.

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

The trend of Grand Rapids 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. The data and analysis on this page pertains
to Grand Rapids-Wyoming, MI, hereinafter referred to as "Grand Rapids".

Last Quarter:
During the 3rd Quarter of 2017, Grand Rapids Home Prices had a rank of 81,
with appreciation of 2.70%. 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, Grand Rapids Home Prices had a rank of 28, with
appreciation during the year of 10.45%. 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, Grand Rapids Home
Prices ranked 68, with a total appreciation of 45.9%. 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, Grand Rapids Home
Prices had a rank of 41, with appreciation during the decade of 25%. 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, Grand Rapids Home
Prices had a rank of 238, with total growth over the 20 year period of 70%. 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 Grand Rapids Real
Estate Market is available back to the 2nd Quarter, of 1979. All calculations are
based on the quarterly value of the House Price Index for Grand Rapids. 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 Wednesday, January 10, 2018.
SignalTrend  Inc. 2008 - 2018; All rights reserved.


_____________________________________________________________
Report a Problem with this Page    Contact Us     Privacy Policy    Terms of Use/Disclosure
LittleBigHomes.com
1975
1980
1985
1990
1995
2000
2005
2010
2035
2015
2020
2025
2030