Ithaca, NY - House Price Index (HPI)
Ithaca Real Estate Market Forecast
The House Price Index (HPI) shows changes in Ithaca, NY 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.
Ithaca Real Estate Market: Trend Outlook, Analysis & Statistics
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Commentary  1126.56
1st Quarter, 2018 Housing Statistics: Ithaca, New York


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:      DOWN
Forecast Accuracy:      66%

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 Ithaca housing market for the 12
months ending with the 1st Quarter of 2019 is DOWN. The Accuracy of the
Trend Projection for Ithaca is 66%. In other words, when tested against
historical data, the forecasting methodology was correct 66% of the time.
Accordingly, LittleBigHomes.com estimates that the probability for falling house
prices in Ithaca is 66% 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 Ithaca
Real Estate Market Forecast.


3 Year Forecast:          DOWN
Forecast Accuracy:      69%

The forecast for the trend in the Ithaca housing market for the 3 years ending
with the 1st Quarter of 2021 is DOWN. The Accuracy of the Trend Prediction for
Ithaca is 69%. In other words, when tested against historical data, the
forecasting methodology was correct 69% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for falling house prices in
Ithaca is 69% 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 Ithaca Real
Estate Market Forecast.




Part 2: MARKET SUMMARY
1st Quarter, 2018 Housing Data: Ithaca, New York


Historical Home Price Appreciation
Last Quarter                         -2.05%
Last Year                              -1.5%
Last 5 Years                         18%
Last 10 Years                       20%
Last 20 Years                       109%
Decline From All Time High   6.27%


Annual Home Price Appreciation Rates
1988      7.96%
1989      7.90%
1990      0.60%
1991      -0.71%
1992      0.26%
1993      1.61%
1994      -7.29%
1995      -0.52%
1996      4.65%
1997      2.04%
1998      1.05%
1999      0.76%
2000      3.34%
2001      7.05%
2002      5.34%
2003      12.40%
2004      5.93%
2005      14.93%
2006      3.08%
2007      3.00%
2008      3.11%
2009      -0.01%
2010      -1.98%
2011      1.25%
2012      2.30%
2013      -0.86%
2014      8.23%
2015      0.86%
2016      8.48%
2017      0.78%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              -2.05%        Rank: 354 of 381 (7th Percentile)
Last Year  . . . . . . . . . . . . . . . .  -1.5%          Rank: 372 of 381 (2nd Percentile)
Last 5 Years                              18%            Rank: 215 of 381 (43rd Percentile)
Last 10 Years  . . . . . . . . . . . .   20%            Rank: 71 of 381 (81st Percentile)
Last 20 Years                            109%          Rank: 100 of 379 (73rd Percentile)
Decline From All Time High        6.27%

The change in home prices for Ithaca, NY are shown above for five time
periods. For example: Ithaca appreciated -2.05% in the Last Quarter. At that
rate, the Ithaca Real Estate Market was ranked 354th out of 381 metropolitan
Real Estate Markets. Ithaca was in the 7th percentile. So Ithaca, NY performed
better in the Last Quarter than 7% of the 381 metropolitan areas covered in
LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
1st Quarter, 2018 Housing Statistics: Ithaca, New York

The all time high in the Ithaca Home Price Index was 241.8 in the 3rd Quarter,
of 2017. The 1st Quarter, 2018 index value was 226.6. That's a decline of
15.16 points or 6.27% below the Ithaca Home Price Index all time high.  The
Home Price Index indicates that the Ithaca Market is up 20% over the last 10
years. Home Prices in the Ithaca Real Estate Market have lost 1.47% over the
last 12 months. Over the last thirty years, it is up 158%.

The 1st Quarter index value was 4.74 points lower than the 4th Quarter, 2017
index value of 231.33, resulting in a 2.05% decline for the 1st Quarter in the
Ithaca Market.

The Ithaca Home Price Index has declined for the last 2 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 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 highest annual change in the value of houses in the Ithaca Real Estate
Market was 16% in the twelve months ended with the 3rd Quarter of 1988. The
worst annual change in home values  in the Ithaca Market was -9% in the twelve
months ended with the 1st Quarter of 1995.

The highest growth in home values in the Ithaca Real Estate Market over a
three year period was 37% in the three years ended with the 4th Quarter of
2005. The worst performance over a three year period in the Ithaca Market was
-8% in the three years ended with the 1st Quarter of 1995.

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

The trend of Ithaca 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, Ithaca Home Prices had a rank of 354, with
appreciation of -2.05%. 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, Ithaca Home Prices had a rank of 372, with
appreciation during the year of -1.47%. 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, Ithaca Home Prices
ranked 215, with a total appreciation of 18.1%. 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, Ithaca Home Prices had
a rank of 71, with appreciation during the decade of 20%. 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, Ithaca Home Prices had
a rank of 100, with total growth over the 20 year period of 109%. 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 Ithaca Real Estate
Market is available back to the 3rd Quarter, of 1987. All calculations are based
on the quarterly value of the House Price Index for Ithaca. 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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