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
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Commentary  1100.56
1st Quarter, 2018 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 1st Quarter of 2019 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 1st Quarter of 2019 than
they were in the 1st Quarter of 2018. 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 1st Quarter of 2021 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 1st Quarter of 2021 than
they were in the 1st Quarter of 2018. Check this page each quarter for updates
to the Grand Rapids Real Estate Market Forecast.




Part 2: MARKET SUMMARY
1st Quarter, 2018 Housing Data: Grand Rapids, Michigan


Historical Home Price Appreciation
Last Quarter                                     1.75%
Last Year . . . . . . . . . . . . . . . . . . . .  8.0%
Last 5 Years                                     46%
Last 10 Years . . . . . . . . . . . . . . . . . 26%
Last 20 Years                                   68%



Annual Home Price Appreciation Rates
1988      7.72%
1989      6.28%
1990      3.61%
1991      3.69%
1992      1.90%
1993      2.22%
1994      6.79%
1995      5.84%
1996      6.95%
1997      5.59%
1998      4.09%
1999      6.48%
2000      5.79%
2001      4.83%
2002      3.77%
2003      3.80%
2004      3.90%
2005      2.43%
2006      -1.24%
2007      -3.41%
2008      -6.51%
2009      -5.39%
2010      -1.38%
2011      -2.21%
2012      0.99%
2013      5.36%
2014      7.58%
2015      7.15%
2016      7.54%
2017      10.04%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              1.75%         Rank: 136 of 381 (64th Percentile)
Last Year  . . . . . . . . . . . . . . . .  8.0%           Rank: 93 of 381 (75th Percentile)
Last 5 Years                              46%            Rank: 66 of 381 (82nd Percentile)
Last 10 Years  . . . . . . . . . . . .   26%            Rank: 39 of 381 (90th Percentile)
Last 20 Years                            68%            Rank: 237 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 1.75% in the Last
Quarter. At that rate, the Grand Rapids Real Estate Market was ranked 136th
out of 381 metropolitan Real Estate Markets. Grand Rapids was in the 64th
percentile. So Grand Rapids, MI performed better in the Last Quarter than 64%
of the 381 metropolitan areas covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
1st Quarter, 2018 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 199.9 in the 1st Quarter, of 2018.  The Home
Price Index indicates that the Grand Rapids Market is up 26% over the last 10
years. Home prices in the Grand Rapids Real Estate Market have gained 8.03%
over the last 12 months. Over the last thirty years, it is up 170%.

The 1st Quarter index value was 3.43 points higher than the 4th Quarter, 2017
index value of 196.44, resulting in a 1.75% rise in the 1st Quarter for the Grand
Rapids Market.

The Grand Rapids 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 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 29% in the three years ended with the 1st Quarter
of 2018. 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
1st Quarter, 2018 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 1st Quarter of 2018, Grand Rapids Home Prices had a rank of 136,
with appreciation of 1.75%. 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 Rapids Home Prices had a rank of 93, with
appreciation during the year of 8.03%. 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 Rapids Home
Prices ranked 66, with a total appreciation of 46.2%. 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 Rapids Home
Prices had a rank of 39, with appreciation during the decade of 26%. 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 Rapids Home
Prices had a rank of 237, with total growth over the 20 year period of 68%. 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 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 Friday, June 29, 2018.
SignalTrend  Inc. 2008 - 2018; All rights reserved.


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