Norwich, CT - House Price Index (HPI)
Norwich Real Estate Market - Home Price Forecast
The House Price Index (HPI) shows changes in Norwich-New London, CT 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.
Norwich Real Estate Market: Trend Outlook, Analysis & Statistics
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Commentary  27832
3rd Quarter, 2017 Housing Statistics: Norwich, Connecticut


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:        UP
Forecast Accuracy:      77%

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 Norwich housing market for the 12
months ending with the 3rd Quarter of 2018 is UP. The Accuracy of the Trend
Projection for Norwich is 77%. In other words, when tested against historical
data, the forecasting methodology was correct 77% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in
Norwich is 77% 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 Norwich Real
Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      70%

The forecast for the trend in the Norwich housing market for the 3 years ending
with the 3rd Quarter of 2020 is UP. The Accuracy of the Trend Prediction for
Norwich is 70%. In other words, when tested against historical data, the
forecasting methodology was correct 70% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in
Norwich is 70% 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 Norwich Real
Estate Market Forecast.




Part 2: MARKET SUMMARY
3rd Quarter, 2017 Housing Data: Norwich, Connecticut


Historical Home Price Appreciation
Last Quarter                         0.69%
Last Year                              5.1%
Last 5 Years                         6%
Last 10 Years                       -15%
Last 20 Years                       74%
Decline From All Time High   16.25%


Annual Home Price Appreciation Rates
1987      24.13%
1988      12.56%
1989      -2.80%
1990      -5.91%
1991      -4.52%
1992      -3.02%
1993      0.02%
1994      -4.70%
1995      4.34%
1996      -0.58%
1997      5.68%
1998      2.13%
1999      5.28%
2000      6.48%
2001      9.99%
2002      11.50%
2003      11.03%
2004      12.94%
2005      12.59%
2006      2.77%
2007      -1.06%
2008      -6.69%
2009      -6.00%
2010      -1.32%
2011      -3.85%
2012      -4.11%
2013      -3.50%
2014      2.03%
2015      1.58%
2016      1.85%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              0.69%         Rank: 281 of 381 (26th Percentile)
Last Year  . . . . . . . . . . . . . . . .  5.1%           Rank: 204 of 381 (46th Percentile)
Last 5 Years                              6%              Rank: 349 of 381 (8th Percentile)
Last 10 Years  . . . . . . . . . . . .   -15%           Rank: 367 of 381 (3rd Percentile)
Last 20 Years                            74%            Rank: 216 of 379 (43rd Percentile)
Decline From All Time High        16.25%

The change in home prices for Norwich-New London, CT are shown above for
five time periods. For example: Norwich appreciated 0.69% in the Last Quarter.
At that rate, the Norwich Real Estate Market was ranked 281st out of 381
metropolitan Real Estate Markets. Norwich was in the 26th percentile. So
Norwich, CT performed better in the Last Quarter than 26% of the 381
metropolitan areas covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
3rd Quarter, 2017 Housing Statistics: Norwich, Connecticut

The data and analysis on this page pertains to Norwich-New London, CT,
hereinafter referred to as "Norwich". The all time high in the Norwich Home Price
Index was 226.2 in the 4th Quarter, of 2006. The 3rd Quarter, 2017 index value
was 189.4. That's a decline of 36.75 points or 16.25% below the Norwich Home
Price Index all time high.  The Home Price Index indicates that the Norwich
Market is down 15% over the last 10 years. Home prices in the Norwich Real
Estate Market have gained 5.09% over the last 12 months. Over the last thirty
years, it is up 77%.

The 3rd Quarter index value was 1.29 points higher than the 2nd Quarter, 2017
index value of 188.15, resulting in a 0.69% rise in the 3rd Quarter for the
Norwich Market.

The Norwich Home Price Index has increased for 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 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 Norwich Real Estate
Market was 25% in the twelve months ended with the 1st Quarter of 1988. The
worst annual change in home values  in the Norwich Market was -7% in the
twelve months ended with the 2nd Quarter of 1991.

The highest growth in home values in the Norwich Real Estate Market over a
three year period was 67% in the three years ended with the 4th Quarter of
1988. The worst performance over a three year period in the Norwich Market
was -16% in the three years ended with the 2nd Quarter of 2011.

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

The trend of Norwich 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 Norwich-New London, CT, hereinafter referred to as "Norwich".

Last Quarter:
During the 3rd Quarter of 2017, Norwich Home Prices had a rank of 281, with
appreciation of 0.69%. 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, Norwich Home Prices had a rank of 204, with
appreciation during the year of 5.09%. 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, Norwich Home Prices
ranked 349, with a total appreciation of 6.0%. 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, Norwich Home Prices
had a rank of 367, with appreciation during the decade of -15%. 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, Norwich Home Prices
had a rank of 216, with total growth over the 20 year period of 74%. 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 Norwich Real Estate
Market is available back to the 4th Quarter, of 1985. All calculations are based
on the quarterly value of the House Price Index for Norwich. 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 Thursday, January 25, 2018.
SignalTrend  Inc. 2008 - 2018; All rights reserved.


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