Spokane, WA - House Price Index (HPI)
Spokane Real Estate Market - Home Price Forecast
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The House Price Index (HPI) shows changes in Spokane, WA single family home prices in
logarithmic scale. The March, 1995 index value equals 100.  Updated Thursday, July 23, 2015. Real
estate forecasts, analysis, statistics and appreciation rates are provided below.
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Spokane Real Estate Market: Trend Outlook, Analysis & Statistics
Commentary  18768
3rd Quarter, 2014 Housing Statistics: Spokane, Washington


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:        UP
Forecast Accuracy:      73%

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 Spokane housing market for the 12
months ending with the 3rd Quarter of 2015 is UP. The Accuracy of the Trend
Projection for Spokane 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
Spokane is 73% 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 Spokane
Real Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      71%

The forecast for the trend in the Spokane housing market for the 3 years
ending with the 3rd Quarter of 2017 is UP. The Accuracy of the Trend
Prediction for Spokane is 71%. In other words, when tested against historical
data, the forecasting methodology was correct 71% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in
Spokane is 71% 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 Spokane
Real Estate Market Forecast.




Part 2: MARKET SUMMARY
3rd Quarter, 2014 Housing Data: Spokane, Washington


Historical Home Price Appreciation
Last Quarter                         1.49%
Last Year                              4.6%
Last 5 Years                         -6%
Last 10 Years                       27%
Last 20 Years                       70%
Decline From All Time High   13.52%


Annual Home Price Appreciation Rates
1984      19.98%
1985      -3.43%
1986      2.58%
1987      -2.45%
1988      2.49%
1989      7.11%
1990      12.09%
1991      9.07%
1992      10.83%
1993      9.22%
1994      3.77%
1995      5.90%
1996      0.00%
1997      1.95%
1998      2.34%
1999      -0.82%
2000      2.01%
2001      4.45%
2002      3.38%
2003      3.86%
2004      11.26%
2005      18.99%
2006      13.12%
2007      6.23%
2008      -2.74%
2009      -6.66%
2010      -3.62%
2011      -5.74%
2012      -1.24%
2013      0.60%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              1.49%         Rank: 180 of 381 (52nd Percentile)
Last Year  . . . . . . . . . . . . . . . .  4.6%           Rank: 158 of 381 (58th Percentile)
Last 5 Years                              -6%             Rank: 316 of 381 (17th Percentile)
Last 10 Years  . . . . . . . . . . . .   27%            Rank: 54 of 381 (86th Percentile)
Last 20 Years                            70%            Rank: 222 of 378 (41st Percentile)
Decline From All Time High        13.52%

The change in home prices for Spokane-Spokane Valley, WA are shown above
for five time periods. For example: Spokane appreciated 1.49% in the Last
Quarter. At that rate, the Spokane Real Estate Market was ranked 180th out of
381 metropolitan Real Estate Markets. Spokane was in the 52nd percentile. So
Spokane, WA performed better in the Last Quarter than 52% of the 381
metropolitan areas covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
3rd Quarter, 2014 Housing Statistics: Spokane, Washington

The all time high in the Spokane Home Price Index was 197.1 in the 4th
Quarter, of 2007. The 3rd Quarter, 2014 index value was 170.4. That's a
decline of 26.64 points or 13.52% below the Spokane Home Price Index all time
high.  The Home Price Index indicates that the Spokane Market is up 27% over
the last 10 years. Home prices in the Spokane Real Estate Market have gained
4.56% over the last 12 months. Over the last thirty years, it is up 185%.

The 3rd Quarter index value was 2.50 points higher than the 2nd Quarter, 2014
index value of 167.93, resulting in a 1.49% rise in the 3rd Quarter for the
Spokane Market.

The Spokane Home Price Index has increased for the last 3 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 Spokane Real Estate
Market was 24% in the twelve months ended with the 3rd Quarter of 1984. The
worst annual change in home values  in the Spokane Market was -8% in the
twelve months ended with the 4th Quarter of 1982.

The highest growth in home values in the Spokane Real Estate Market over a
three year period was 52% in the three years ended with the 1st Quarter of
2007. The worst performance over a three year period in the Spokane Market
was -17% in the three years ended with the 2nd Quarter of 2011.

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

The trend of Spokane 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, Spokane Home Prices had a rank of 180, with
appreciation of 1.49%. 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, Spokane Home Prices had a rank of 158, with
appreciation during the year of 4.56%. 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, Spokane Home Prices
ranked 316, with a total appreciation of -6.0%. 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, Spokane Home Prices
had a rank of 54, with appreciation during the decade of 27%. 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, Spokane Home Prices
had a rank of 222, with total growth over the 20 year period of 70%. 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 Spokane Real Estate
Market is available back to the 3rd Quarter, of 1977. All calculations are based
on the quarterly value of the House Price Index for Spokane. 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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