Spartanburg, SC - House Price Index (HPI)
Spartanburg Real Estate Market - Home Price Forecast
100
1000
The House Price Index (HPI) shows changes in Spartanburg, SC 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.
10
Spartanburg Real Estate Market: Trend Outlook, Analysis & Statistics
Commentary  27911
3rd Quarter, 2017 Housing Statistics: Spartanburg, South Carolina


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:        UP
Forecast Accuracy:      89%

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 Spartanburg housing market for the 12
months ending with the 3rd Quarter of 2018 is UP. The Accuracy of the Trend
Projection for Spartanburg is 89%. In other words, when tested against
historical data, the forecasting methodology was correct 89% of the time.
Accordingly, LittleBigHomes.com estimates that the probability for rising house
prices in Spartanburg is 89% 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
Spartanburg Real Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      83%

The forecast for the trend in the Spartanburg housing market for the 3 years
ending with the 3rd Quarter of 2020 is UP. The Accuracy of the Trend
Prediction for Spartanburg is 83%. In other words, when tested against
historical data, the forecasting methodology was correct 83% of the time.
Accordingly, LittleBigHomes.com estimates that the probability for rising house
prices in Spartanburg is 83% 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
Spartanburg Real Estate Market Forecast.




Part 2: MARKET SUMMARY
3rd Quarter, 2017 Housing Data: Spartanburg, South Carolina


Historical Home Price Appreciation
Last Quarter                         4.44%
Last Year                              9.1%
Last 5 Years                         22%
Last 10 Years                       14%
Last 20 Years                       55%



Annual Home Price Appreciation Rates
1987      3.20%
1988      1.28%
1989      5.46%
1990      2.27%
1991      4.05%
1992      4.98%
1993      2.90%
1994      4.28%
1995      6.84%
1996      5.19%
1997      4.40%
1998      4.20%
1999      1.31%
2000      2.99%
2001      6.39%
2002      2.85%
2003      0.87%
2004      3.30%
2005      3.05%
2006      3.38%
2007      2.10%
2008      -0.18%
2009      -0.88%
2010      -2.52%
2011      -2.61%
2012      -1.18%
2013      -0.17%
2014      1.72%
2015      4.85%
2016      6.86%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              4.44%         Rank: 13 of 381 (96th Percentile)
Last Year  . . . . . . . . . . . . . . . .  9.1%           Rank: 65 of 381 (83rd Percentile)
Last 5 Years                              22%            Rank: 165 of 381 (56th Percentile)
Last 10 Years  . . . . . . . . . . . .   14%            Rank: 114 of 381 (70th Percentile)
Last 20 Years                            55%            Rank: 301 of 379 (20th Percentile)


The change in home prices for Spartanburg, SC are shown above for five time
periods. For example: Spartanburg appreciated 4.44% in the Last Quarter. At
that rate, the Spartanburg Real Estate Market was ranked 13th out of 381
metropolitan Real Estate Markets. Spartanburg was in the 96th percentile. So
Spartanburg, SC performed better in the Last Quarter than 96% of the 381
metropolitan areas covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
3rd Quarter, 2017 Housing Statistics: Spartanburg, South Carolina

The all time high in the Spartanburg Home Price Index was 174.9 in the 3rd
Quarter, of 2017.  The Home Price Index indicates that the Spartanburg Market
is up 14% over the last 10 years. Home prices in the Spartanburg Real Estate
Market have gained 9.05% over the last 12 months. Over the last thirty years, it
is up 130%.

The 3rd Quarter index value was 7.44 points higher than the 2nd Quarter, 2017
index value of 167.46, resulting in a 4.44% rise in the 3rd Quarter for the
Spartanburg Market.

The Spartanburg 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 Spartanburg Real
Estate Market was 10% in the twelve months ended with the 3rd Quarter of
1989. The worst annual change in home values  in the Spartanburg Market was
-6% in the twelve months ended with the 2nd Quarter of 2010.

The highest growth in home values in the Spartanburg Real Estate Market over
a three year period was 20% in the three years ended with the 3rd Quarter of
2017. The worst performance over a three year period in the Spartanburg
Market was -10% in the three years ended with the 2nd Quarter of 2012.

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

The trend of Spartanburg 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 2017, Spartanburg Home Prices had a rank of 13,
with appreciation of 4.44%. 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, Spartanburg Home Prices had a rank of 65, with
appreciation during the year of 9.05%. 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, Spartanburg Home Prices
ranked 165, with a total appreciation of 21.6%. 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, Spartanburg Home
Prices had a rank of 114, with appreciation during the decade of 14%. 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, Spartanburg Home
Prices had a rank of 301, with total growth over the 20 year period of 55%. 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 Spartanburg Real
Estate Market is available back to the 2nd Quarter, of 1987. All calculations are
based on the quarterly value of the House Price Index for Spartanburg. 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 Wednesday, February 7, 2018.
SignalTrend  Inc. 2008 - 2018; All rights reserved.


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