Utica, NY - House Price Index (HPI)
Utica Real Estate Market - Home Price Forecast
100
1000
The House Price Index (HPI) shows changes in Utica-Rome, NY single family home prices in
logarithmic scale. The March, 1995 index value equals 100.  Updated Friday, July 24, 2015. Real
estate forecasts, analysis, statistics and appreciation rates are provided below.
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Utica Real Estate Market: Trend Outlook, Analysis & Statistics
Commentary  18793
3rd Quarter, 2014 Housing Statistics: Utica, New York


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:      DOWN
Forecast Accuracy:      70%

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 Utica housing market for the 12
months ending with the 3rd Quarter of 2015 is DOWN. The Accuracy of the
Trend Projection for Utica is 70%. In other words, when tested against historical
data, the forecasting methodology was correct 70% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for falling house prices in
Utica is 70% during this period. If this Housing Market Forecast is correct, home
prices will be lower in the 3rd Quarter of 2015 than they were in the 3rd Quarter
of 2014. Check this page each quarter for updates to the Utica Real Estate
Market Forecast.


3 Year Forecast:          DOWN
Forecast Accuracy:      74%

The forecast for the trend in the Utica housing market for the 3 years ending
with the 3rd Quarter of 2017 is DOWN. The Accuracy of the Trend Prediction
for Utica is 74%. In other words, when tested against historical data, the
forecasting methodology was correct 74% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for falling house prices in
Utica is 74% during this period. If this Housing Market Forecast is correct, home
values will be lower in the 3rd Quarter of 2017 than they were in the 3rd
Quarter of 2014. Check this page each quarter for updates to the Utica Real
Estate Market Forecast.




Part 2: MARKET SUMMARY
3rd Quarter, 2014 Housing Data: Utica, New York


Historical Home Price Appreciation
Last Quarter                         -1.38%
Last Year                              -0.4%
Last 5 Years                         -1%
Last 10 Years                       23%
Last 20 Years                       69%
Decline From All Time High   2.17%


Annual Home Price Appreciation Rates
1984        n/a
1985        n/a
1986        n/a
1987      7.11%
1988      7.25%
1989      5.96%
1990      1.83%
1991      3.64%
1992      1.19%
1993      -0.59%
1994      -9.78%
1995      0.59%
1996      -0.74%
1997      -2.06%
1998      5.17%
1999      3.02%
2000      2.44%
2001      8.05%
2002      5.17%
2003      6.26%
2004      6.18%
2005      7.69%
2006      7.85%
2007      3.64%
2008      0.01%
2009      1.26%
2010      1.70%
2011      -2.47%
2012      2.28%
2013      0.26%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              -1.38%        Rank: 359 of 381 (5th Percentile)
Last Year  . . . . . . . . . . . . . . . .  -0.4%          Rank: 361 of 381 (5th Percentile)
Last 5 Years                              -1%             Rank: 235 of 381 (38th Percentile)
Last 10 Years  . . . . . . . . . . . .   23%            Rank: 78 of 381 (79th Percentile)
Last 20 Years                            69%            Rank: 234 of 378 (38th Percentile)
Decline From All Time High        2.17%

The change in home prices for Utica-Rome, NY are shown above for five time
periods. For example: Utica appreciated -1.38% in the Last Quarter. At that
rate, the Utica Real Estate Market was ranked 359th out of 381 metropolitan
Real Estate Markets. Utica was in the 5th percentile. So Utica, NY performed
better in the Last Quarter than 5% of the 381 metropolitan areas covered in
LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
3rd Quarter, 2014 Housing Statistics: Utica, New York

The data and analysis on this page pertains to Utica-Rome, NY, hereinafter
referred to as "Utica". The all time high in the Utica Home Price Index was 170.1
in the 1st Quarter, of 2013. The 3rd Quarter, 2014 index value was 166.4.
That's a decline of 3.69 points or 2.17% below the Utica Home Price Index all
time high.  The Home Price Index indicates that the Utica Market is up 23% over
the last 10 years. Home Prices in the Utica Real Estate Market have lost 0.40%
over the last 12 months.

The 3rd Quarter index value was 2.32 points lower than the 2nd Quarter, 2014
index value of 168.72, resulting in a 1.38% decline for the 3rd Quarter in the
Utica Market.

The Utica Home Price Index declined in the last quarter after increasing in the
previous quarter. 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 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 highest annual change in the value of houses in the Utica Real Estate
Market was 17% in the twelve months ended with the 3rd Quarter of 1987. The
worst annual change in home values  in the Utica Market was -10% in the twelve
months ended with the 4th Quarter of 1994.

The highest growth in home values in the Utica Real Estate Market over a three
year period was 31% in the three years ended with the 3rd Quarter of 1989.
The worst performance over a three year period in the Utica Market was -10%
in the three years ended with the 4th Quarter of 1996.

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

The trend of Utica 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 Utica-Rome, NY, hereinafter referred to as "Utica".

Last Quarter:
During the 3rd Quarter of 2014, Utica Home Prices had a rank of 359, with
appreciation of -1.38%. 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, Utica Home Prices had a rank of 361, with
appreciation during the year of -0.40%. 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, Utica Home Prices ranked
235, with a total appreciation of -1.0%. 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, Utica Home Prices had a
rank of 78, with appreciation during the decade of 23%. 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, Utica Home Prices had a
rank of 234, with total growth over the 20 year period of 69%. 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 Utica Real Estate
Market is available back to the 3rd Quarter, of 1986. All calculations are based
on the quarterly value of the House Price Index for Utica. 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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