Providence, RI - House Price Index (HPI)
Providence Real Estate Market - Home Price Forecast
The House Price Index (HPI) shows changes in Providence-New Bedford-Fall River, RI-MA 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.
Providence Real Estate Market: Trend Outlook, Analysis & Statistics
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Commentary  1242.56
1st Quarter, 2018 Housing Statistics: Providence, Rhode Island


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:        UP
Forecast Accuracy:      78%

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 Providence housing market for the 12
months ending with the 1st Quarter of 2019 is UP. The Accuracy of the Trend
Projection for Providence is 78%. In other words, when tested against historical
data, the forecasting methodology was correct 78% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in
Providence is 78% 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 Providence
Real Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      73%

The forecast for the trend in the Providence housing market for the 3 years
ending with the 1st Quarter of 2021 is UP. The Accuracy of the Trend
Prediction for Providence is 73%. In other words, when tested against historical
data, the forecasting methodology was correct 73% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in
Providence is 73% 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 Providence
Real Estate Market Forecast.




Part 2: MARKET SUMMARY
1st Quarter, 2018 Housing Data: Providence, Rhode Island


Historical Home Price Appreciation
Last Quarter                         1.84%
Last Year                              7.6%
Last 5 Years                         25%
Last 10 Years                       -1%
Last 20 Years                       121%
Decline From All Time High   7.01%


Annual Home Price Appreciation Rates
1988      6.36%
1989      3.41%
1990      -5.48%
1991      -2.00%
1992      -1.21%
1993      0.14%
1994      -4.85%
1995      4.72%
1996      -0.63%
1997      3.36%
1998      4.03%
1999      6.87%
2000      12.19%
2001      12.14%
2002      16.15%
2003      16.04%
2004      15.90%
2005      9.54%
2006      -0.04%
2007      -4.56%
2008      -9.70%
2009      -6.04%
2010      -1.66%
2011      -4.13%
2012      -1.66%
2013      0.25%
2014      4.24%
2015      4.21%
2016      5.68%
2017      6.53%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              1.84%         Rank: 126 of 381 (67th Percentile)
Last Year  . . . . . . . . . . . . . . . .  7.6%           Rank: 115 of 381 (70th Percentile)
Last 5 Years                              25%            Rank: 140 of 381 (63rd Percentile)
Last 10 Years  . . . . . . . . . . . .   -1%            Rank: 288 of 381 (24th Percentile)
Last 20 Years                            121%          Rank: 71 of 379 (81st Percentile)
Decline From All Time High        7.01%

The change in home prices for Providence-Warwick, RI-MA are shown above
for five time periods. For example: Providence appreciated 1.84% in the Last
Quarter. At that rate, the Providence Real Estate Market was ranked 126th out
of 381 metropolitan Real Estate Markets. Providence was in the 67th percentile.
So Providence, RI performed better in the Last Quarter than 67% of the 381
metropolitan areas covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
1st Quarter, 2018 Housing Statistics: Providence, Rhode Island

The data and analysis on this page pertains to Providence-Warwick, RI-MA,
hereinafter referred to as "Providence". The all time high in the Providence
Home Price Index was 257.7 in the 1st Quarter, of 2006. The 1st Quarter, 2018
index value was 239.7. That's a decline of 18.06 points or 7.01% below the
Providence Home Price Index all time high.  The Home Price Index indicates that
the Providence Market is down 1% over the last 10 years. Home prices in the
Providence Real Estate Market have gained 7.55% over the last 12 months.
Over the last thirty years, it is up 126%.

The 1st Quarter index value was 4.33 points higher than the 4th Quarter, 2017
index value of 235.32, resulting in a 1.84% rise in the 1st Quarter for the
Providence Market.

The Providence Home Price Index has increased for the last 20 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 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 2 consecutive
quarters.

The highest annual change in the value of houses in the Providence Real
Estate Market was 30% in the twelve months ended with the 1st Quarter of
1987. The worst annual change in home values  in the Providence Market was
-10% in the twelve months ended with the 4th Quarter of 2008.

The highest growth in home values in the Providence Real Estate Market over a
three year period was 86% in the three years ended with the 4th Quarter of
1987. The worst performance over a three year period in the Providence
Market was -19% in the three years ended with the 1st Quarter of 2010.

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

The trend of Providence 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 Providence-Warwick, RI-MA, hereinafter referred to as "Providence".

Last Quarter:
During the 1st Quarter of 2018, Providence Home Prices had a rank of 126,
with appreciation of 1.84%. 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, Providence Home Prices had a rank of 115, with
appreciation during the year of 7.55%. 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, Providence Home Prices
ranked 140, with a total appreciation of 25.3%. 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, Providence Home Prices
had a rank of 288, with appreciation during the decade of -1%. 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, Providence Home Prices
had a rank of 71, with total growth over the 20 year period of 121%. 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 Providence Real
Estate Market is available back to the 4th Quarter, of 1976. All calculations are
based on the quarterly value of the House Price Index for Providence. 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 Tuesday, July 24, 2018.
SignalTrend  Inc. 2008 - 2018; All rights reserved.


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