Philadelphia, PA - House Price Index (HPI)
Philadelphia Real Estate Market - Home Price Forecast
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1000
The House Price Index (HPI) shows changes in Philadelphia, PA 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
Philadelphia Real Estate Market: Trend Outlook, Analysis & Statistics
Commentary  18709
3rd Quarter, 2014 Housing Statistics: Philadelphia, Pennsylvania


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:        UP
Forecast Accuracy:      79%

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 Philadelphia housing market for the 12
months ending with the 3rd Quarter of 2015 is UP. The Accuracy of the Trend
Projection for Philadelphia is 79%. In other words, when tested against historical
data, the forecasting methodology was correct 79% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in
Philadelphia is 79% 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
Philadelphia Real Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      77%

The forecast for the trend in the Philadelphia housing market for the 3 years
ending with the 3rd Quarter of 2017 is UP. The Accuracy of the Trend
Prediction for Philadelphia 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
Philadelphia is 77% 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
Philadelphia Real Estate Market Forecast.




Part 2: MARKET SUMMARY
3rd Quarter, 2014 Housing Data: Philadelphia, Pennsylvania


Historical Home Price Appreciation
Last Quarter                         0.40%
Last Year                              2.8%
Last 5 Years                         0%
Last 10 Years                       22%
Last 20 Years                       116%
Decline From All Time High   5.65%


Annual Home Price Appreciation Rates
1984      5.02%
1985      8.47%
1986      14.42%
1987      16.98%
1988      11.94%
1989      4.69%
1990      1.02%
1991      2.07%
1992      1.22%
1993      0.69%
1994      -4.76%
1995      3.01%
1996      -0.62%
1997      1.55%
1998      3.71%
1999      2.06%
2000      5.97%
2001      10.07%
2002      11.00%
2003      11.20%
2004      16.69%
2005      15.47%
2006      6.28%
2007      1.60%
2008      -2.18%
2009      -3.28%
2010      -0.33%
2011      -3.12%
2012      -0.50%
2013      1.98%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              0.40%         Rank: 299 of 381 (21st Percentile)
Last Year  . . . . . . . . . . . . . . . .  2.8%           Rank: 241 of 381 (36th Percentile)
Last 5 Years                              0%             Rank: 212 of 381 (44th Percentile)
Last 10 Years  . . . . . . . . . . . .   22%            Rank: 85 of 381 (77th Percentile)
Last 20 Years                            116%          Rank: 52 of 378 (86th Percentile)
Decline From All Time High        5.65%

The change in home prices for Philadelphia, PA are shown above for five time
periods. For example: Philadelphia appreciated 0.40% in the Last Quarter. At
that rate, the Philadelphia Real Estate Market was ranked 299th out of 381
metropolitan Real Estate Markets. Philadelphia was in the 21st percentile. So
Philadelphia, PA performed better in the Last Quarter than 21% of the 381
metropolitan areas covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
3rd Quarter, 2014 Housing Statistics: Philadelphia, Pennsylvania

The all time high in the Philadelphia Home Price Index was 234.3 in the 1st
Quarter, of 2008. The 3rd Quarter, 2014 index value was 221.1. That's a
decline of 13.25 points or 5.65% below the Philadelphia Home Price Index all
time high.  The Home Price Index indicates that the Philadelphia Market is up
22% over the last 10 years. Home prices in the Philadelphia Real Estate Market
have gained 2.82% over the last 12 months. Over the last thirty years, it is up
276%.

The 3rd Quarter index value was 0.89 points higher than the 2nd Quarter, 2014
index value of 220.19, resulting in a 0.40% rise in the 3rd Quarter for the
Philadelphia Market.

The Philadelphia Home Price Index has increased for the last 6 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 Philadelphia Real
Estate Market was 18% in the twelve months ended with the 3rd Quarter of
2004. The worst annual change in home values  in the Philadelphia Market was
-5% in the twelve months ended with the 1st Quarter of 1995.

The highest growth in home values in the Philadelphia Real Estate Market over
a three year period was 50% in the three years ended with the 1st Quarter of
2006. The worst performance over a three year period in the Philadelphia
Market was -9% in the three years ended with the 2nd Quarter of 2011.

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

The trend of Philadelphia 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 3rd Quarter of 2014, Philadelphia Home Prices had a rank of 299,
with appreciation of 0.40%. 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, Philadelphia Home Prices had a rank of 241, with
appreciation during the year of 2.82%. 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, Philadelphia Home Prices
ranked 212, with a total appreciation of 0.0%. 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, Philadelphia Home
Prices had a rank of 85, with appreciation during the decade of 22%. 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, Philadelphia Home
Prices had a rank of 52, with total growth over the 20 year period of 116%. 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 Philadelphia Real
Estate Market is available back to the 1st Quarter, of 1976. All calculations are
based on the quarterly value of the House Price Index for Philadelphia. 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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