Palm Bay, FL - House Price Index (HPI)
Palm Bay Real Estate Market - Home Price Forecast
100
1000
The House Price Index (HPI) shows changes in Palm Bay-Melbourne-Titusville, FL single family
home prices in
logarithmic scale. The March, 1995 index value equals 100.  Updated Friday, July 17,
2015. Real estate forecasts, analysis, statistics and appreciation rates are provided below.
10
Palm Bay Real Estate Market: Trend Outlook, Analysis & Statistics
Commentary  18701
3rd Quarter, 2014 Housing Statistics: Palm Bay, Florida


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:        UP
Forecast Accuracy:      65%

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 Palm Bay housing market for the 12
months ending with the 3rd Quarter of 2015 is UP. The Accuracy of the Trend
Projection for Palm Bay is 65%. In other words, when tested against historical
data, the forecasting methodology was correct 65% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in Palm
Bay is 65% during this period. If this Housing Market Forecast is correct, home
prices will be higher in the 3rd Quarter of 2015 than they were in the 3rd
Quarter of 2014. Check this page each quarter for updates to the Palm Bay
Real Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      67%

The forecast for the trend in the Palm Bay housing market for the 3 years
ending with the 3rd Quarter of 2017 is UP. The Accuracy of the Trend
Prediction for Palm Bay is 67%. In other words, when tested against historical
data, the forecasting methodology was correct 67% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in Palm
Bay is 67% during this period. If this Housing Market Forecast is correct, home
values will be higher in the 3rd Quarter of 2017 than they were in the 3rd
Quarter of 2014. Check this page each quarter for updates to the Palm Bay
Real Estate Market Forecast.




Part 2: MARKET SUMMARY
3rd Quarter, 2014 Housing Data: Palm Bay, Florida


Historical Home Price Appreciation
Last Quarter                         2.15%
Last Year                              9.1%
Last 5 Years                         0%
Last 10 Years                       -17%
Last 20 Years                       65%
Decline From All Time High   40.70%


Annual Home Price Appreciation Rates
1984      16.17%
1985      -5.52%
1986      4.01%
1987      -3.42%
1988      7.15%
1989      3.23%
1990      1.03%
1991      3.26%
1992      3.00%
1993      2.85%
1994      -5.35%
1995      5.64%
1996      -2.60%
1997      3.59%
1998      3.67%
1999      1.16%
2000      6.12%
2001      10.21%
2002      10.62%
2003      14.25%
2004      28.24%
2005      29.89%
2006      0.33%
2007      -13.96%
2008      -22.86%
2009      -12.73%
2010      -4.98%
2011      -7.27%
2012      2.96%
2013      9.79%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              2.15%         Rank: 127 of 381 (66th Percentile)
Last Year  . . . . . . . . . . . . . . . .  9.1%           Rank: 61 of 381 (84th Percentile)
Last 5 Years                              0%              Rank: 202 of 381 (47th Percentile)
Last 10 Years  . . . . . . . . . . . .   -17%           Rank: 367 of 381 (3rd Percentile)
Last 20 Years                            65%            Rank: 262 of 378 (30th Percentile)
Decline From All Time High        40.70%

The change in home prices for Palm Bay-Melbourne-Titusville, FL are shown
above for five time periods. For example: Palm Bay appreciated 2.15% in the
Last Quarter. At that rate, the Palm Bay Real Estate Market was ranked 127th
out of 381 metropolitan Real Estate Markets. Palm Bay was in the 66th
percentile. So Palm Bay, FL performed better in the Last Quarter than 66% of
the 381 metropolitan areas covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
3rd Quarter, 2014 Housing Statistics: Palm Bay, Florida

The data and analysis on this page pertains to Palm Bay-Melbourne-Titusville,
FL, hereinafter referred to as "Palm Bay". The all time high in the Palm Bay
Home Price Index was 279.0 in the 1st Quarter, of 2006. The 3rd Quarter, 2014
index value was 165.5. That's a decline of 113.56 points or 40.70% below the
Palm Bay Home Price Index all time high.  The Home Price Index indicates that
the Palm Bay Market is down 17% over the last 10 years. Home prices in the
Palm Bay Real Estate Market have gained 9.08% over the last 12 months. Over
the last thirty years, it is up 87%.

The 3rd Quarter index value was 3.49 points higher than the 2nd Quarter, 2014
index value of 161.96, resulting in a 2.15% rise in the 3rd Quarter for the Palm
Bay Market.

The Palm Bay 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 13 consecutive quarters. The current record holder for consecutive
declines in the Home Price Index is Terre Haute, IN, with declines in the last 3
consecutive quarters.

The highest annual change in the value of houses in the Palm Bay Real Estate
Market was 33% in the twelve months ended with the 2nd Quarter of 2005. The
worst annual change in home values  in the Palm Bay Market was -23% in the
twelve months ended with the 4th Quarter of 2008.

The highest growth in home values in the Palm Bay Real Estate Market over a
three year period was 90% in the three years ended with the 4th Quarter of
2005. The worst performance over a three year period in the Palm Bay Market
was -42% in the three years ended with the 4th Quarter of 2009.

This page provides a long term graph of the Palm Bay Home Price Index
(above). For information about Florida 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 Palm Bay 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 Palm Bay 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 Palm Bay 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, 2014 Housing Data: Palm Bay, Florida

The trend of Palm Bay 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 Palm Bay-Melbourne-Titusville, FL, hereinafter referred to as "Palm Bay".

Last Quarter:
During the 3rd Quarter of 2014, Palm Bay Home Prices had a rank of 127, with
appreciation of 2.15%. The top performing real estate market during the 3rd
Quarter was Johnstown, PA, with a rise of 7.10%. The worst market during that
period was Farmington, NM, with appreciation of -4.09%.
The median for all cities during the 3rd Quarter was 1.44%. The average for all
markets during the quarter was 1.49%.

Last Year:
During the last 12 months, Palm Bay Home Prices had a rank of 61, with
appreciation during the year of 9.08%. The top performing market during the
last year was Madera, CA, with an increase of 19.4%. The worst real estate
market during that period was Jacksonville, NC, with appreciation of -4.5%.
The median for all markets during this period was 3.94%. The average was
4.71%.

Last 5 Years:
Over the 5 years ended with the 3rd Quarter of 2014, Palm Bay Home Prices
ranked 202, with a total appreciation of 0.4%. The top performing real estate
market during the 5 year period was Merced, CA, with a growth in value of 45%.
The worst market during that period was Ocala, FL, with appreciation of -16%.
The median for all cities during this time period was 1%. The average over the
5 years was 3%.

Last 10 Years:
During the 10 years ended in the 3rd Quarter of 2014, Palm Bay Home Prices
had a rank of 367, with appreciation during the decade of -17%. The top
performing market during the period was Midland, TX, with a rise of 129%. The
worst real estate market during the 10 year time period was Las Vegas, NV, with
appreciation of -27%.
The median for all markets during the last 10 years was 10%. The average for
the cities over that time frame was 11%.

Last 20 Years:
During the 20 years ended in the 3rd Quarter of 2014, Palm Bay Home Prices
had a rank of 262, with total growth over the 20 year period of 65%. The top
performing real estate market during the period was San Francisco, CA, with an
increase of 229%. The worst market during the last 20 years was Rockford, IL,
with appreciation of 23%.
The median for all cities during the last 20 years was 75%. The average for the
markets over that time frame was 82%.

Historical research data on the Home Price Index for the Palm Bay Real Estate
Market is available back to the 3rd Quarter, of 1980. All calculations are based
on the quarterly value of the House Price Index for Palm Bay. 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.)





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