Springfield, IL - House Price Index (HPI)
Springfield Real Estate Market - Home Price Forecast (IL)
100
1000
The House Price Index (HPI) shows changes in Springfield, IL 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
Springfield Real Estate Market: Trend Outlook, Analysis & Statistics
Commentary  529.56
4th Quarter, 2017 Housing Statistics: Springfield, Illinois


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:      DOWN
Forecast Accuracy:      91%

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 Springfield housing market for the 12
months ending with the 4th Quarter of 2018 is DOWN. The Accuracy of the
Trend Projection for Springfield is 91%. In other words, when tested against
historical data, the forecasting methodology was correct 91% of the time.
Accordingly, LittleBigHomes.com estimates that the probability for falling house
prices in Springfield is 91% during this period. If this Housing Market Forecast is
correct, home prices will be lower in the 4th Quarter of 2018 than they were in
the 4th Quarter of 2017. Check this page each quarter for updates to the
Springfield Real Estate Market Forecast.


3 Year Forecast:          DOWN
Forecast Accuracy:      96%

The forecast for the trend in the Springfield housing market for the 3 years
ending with the 4th Quarter of 2020 is DOWN. The Accuracy of the Trend
Prediction for Springfield is 96%. In other words, when tested against historical
data, the forecasting methodology was correct 96% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for falling house prices in
Springfield is 96% during this period. If this Housing Market Forecast is correct,
home values will be lower in the 4th Quarter of 2020 than they were in the 4th
Quarter of 2017. Check this page each quarter for updates to the Springfield
Real Estate Market Forecast.




Part 2: MARKET SUMMARY
4th Quarter, 2017 Housing Data: Springfield, Illinois


Historical Home Price Appreciation
Last Quarter                         -1.69%
Last Year                              -0.5%
Last 5 Years                         8%
Last 10 Years                       12%
Last 20 Years                       41%
Decline From All Time High   1.69%


Annual Home Price Appreciation Rates
1988      2.39%
1989      3.54%
1990      5.20%
1991      4.58%
1992      3.57%
1993      4.08%
1994      2.48%
1995      5.08%
1996      2.65%
1997      1.30%
1998      1.62%
1999      0.35%
2000      2.03%
2001      2.98%
2002      2.16%
2003      3.54%
2004      3.95%
2005      2.56%
2006      2.96%
2007      1.17%
2008      0.38%
2009      0.19%
2010      1.14%
2011      0.66%
2012      1.23%
2013      0.72%
2014      1.84%
2015      2.46%
2016      3.26%
2017      -0.55%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              -1.69%        Rank: 348 of 381 (8th Percentile)
Last Year  . . . . . . . . . . . . . . . .  -0.5%          Rank: 364 of 381 (4th Percentile)
Last 5 Years                              8%              Rank: 329 of 381 (13th Percentile)
Last 10 Years  . . . . . . . . . . . .   12%            Rank: 128 of 381 (66th Percentile)
Last 20 Years                            41%            Rank: 345 of 379 (8th Percentile)
Decline From All Time High        1.69%

The change in home prices for Springfield, IL are shown above for five time
periods. For example: Springfield appreciated -1.69% in the Last Quarter. At
that rate, the Springfield Real Estate Market was ranked 348th out of 381
metropolitan Real Estate Markets. Springfield was in the 8th percentile. So
Springfield, IL performed better in the Last Quarter than 8% of the 381
metropolitan areas covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
4th Quarter, 2017 Housing Statistics: Springfield, Illinois

The all time high in the Springfield Home Price Index was 152.9 in the 3rd
Quarter, of 2017. The 4th Quarter, 2017 index value was 150.3. That's a
decline of 2.58 points or 1.69% below the Springfield Home Price Index all time
high.  The Home Price Index indicates that the Springfield Market is up 12%
over the last 10 years. Home Prices in the Springfield Real Estate Market have
lost 0.55% over the last 12 months. Over the last thirty years, it is up 98%.

The 4th Quarter index value was 2.58 points lower than the 3rd Quarter, 2017
index value of 152.87, resulting in a 1.69% decline for the 4th Quarter in the
Springfield Market.

The Springfield Home Price Index declined in the last quarter after increasing in
the previous 2 quarters. The current record holders for consecutive declines in
the Home Price Index are Victoria, TX; Topeka, KS; Texarkana, TX-AR;
Springfield, MA and Peoria, IL, with declines in 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 26
consecutive quarters.

The highest annual change in the value of houses in the Springfield Real
Estate Market was 7% in the twelve months ended with the 4th Quarter of 1987.
The worst annual change in home values  in the Springfield Market was -1% in
the twelve months ended with the 2nd Quarter of 2009.

The highest growth in home values in the Springfield Real Estate Market over a
three year period was 17% in the three years ended with the 4th Quarter of
1987. The worst performance over a three year period in the Springfield Market
was 1% in the three years ended with the 1st Quarter of 2010.

This page provides a long term graph of the Springfield Home Price Index
(above). For information about Illinois 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 Springfield 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 Springfield 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 Springfield 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
4th Quarter, 2017 Housing Data: Springfield, Illinois

The trend of Springfield 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 4th Quarter of 2017, Springfield Home Prices had a rank of 348, with
appreciation of -1.69%. The top performing real estate market during the 4th
Quarter was Gadsden, AL, with a rise of 13.11%. The worst market during that
period was Hinesville, GA, with appreciation of -6.79%.
The median for all cities during the 4th Quarter was 0.75%. The average for all
markets during the quarter was 0.69%.

Last Year:
During the last 12 months, Springfield Home Prices had a rank of 364, with
appreciation during the year of -0.55%. The top performing market during the
last year was Sebastian, FL, with an increase of 16.4%. The worst real estate
market during that period was Goldsboro, NC, with appreciation of -6.9%.
The median for all markets during this period was 5.37%. The average was
5.53%.

Last 5 Years:
Over the 5 years ended with the 4th Quarter of 2017, Springfield Home Prices
ranked 329, with a total appreciation of 7.9%. The top performing real estate
market during the 5 year period was Reno, NV, with a growth in value of 94%.
The worst market during that period was Goldsboro, NC, with appreciation of
-5%.
The median for all cities during this time period was 19%. The average over the
5 years was 25%.

Last 10 Years:
During the 10 years ended in the 4th Quarter of 2017, Springfield Home Prices
had a rank of 128, with appreciation during the decade of 12%. The top
performing market during the period was Denver, CO, with a rise of 65%. The
worst real estate market during the 10 year time period was Atlantic City, NJ,
with appreciation of -27%.
The median for all markets during the last 10 years was 7%. The average for
the cities over that time frame was 8%.

Last 20 Years:
During the 20 years ended in the 4th Quarter of 2017, Springfield Home Prices
had a rank of 345, with total growth over the 20 year period of 41%. The top
performing real estate market during the period was San Francisco, CA, with an
increase of 280%. The worst market during the last 20 years was Saginaw, MI,
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 89%.

Historical research data on the Home Price Index for the Springfield Real Estate
Market is available back to the 3rd Quarter, of 1984. All calculations are based
on the quarterly value of the House Price Index for Springfield. 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, April 25, 2018.
SignalTrend  Inc. 2008 - 2018; All rights reserved.


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