Utica, NY - House Price Index (HPI)
Utica Real Estate Market - Home Price Forecast
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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.  Real estate forecasts, analysis, statistics
and appreciation rates are provided below.
10
Utica Real Estate Market: Trend Outlook, Analysis & Statistics
Commentary  1315.56
1st Quarter, 2018 Housing Statistics: Utica, New York


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:        UP
Forecast Accuracy:      72%

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 1st Quarter of 2019 is UP. The Accuracy of the Trend
Projection for Utica is 72%. In other words, when tested against historical data,
the forecasting methodology was correct 72% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in Utica
is 72% 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 Utica Real
Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      69%

The forecast for the trend in the Utica housing market for the 3 years ending
with the 1st Quarter of 2021 is UP. The Accuracy of the Trend Prediction for
Utica is 69%. In other words, when tested against historical data, the forecasting
methodology was correct 69% of the time. Accordingly, LittleBigHomes.com
estimates that the probability for rising house prices in Utica is 69% 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 Utica Real Estate Market Forecast.




Part 2: MARKET SUMMARY
1st Quarter, 2018 Housing Data: Utica, New York


Historical Home Price Appreciation
Last Quarter                         5.69%
Last Year                              11.4%
Last 5 Years                         14%
Last 10 Years                       15%
Last 20 Years                       93%



Annual Home Price Appreciation Rates
1988      7.71%
1989      5.89%
1990      1.75%
1991      3.51%
1992      1.21%
1993      -0.50%
1994      -9.76%
1995      0.45%
1996      -0.76%
1997      -2.14%
1998      5.38%
1999      2.59%
2000      2.57%
2001      8.28%
2002      5.21%
2003      6.15%
2004      5.85%
2005      7.83%
2006      8.29%
2007      3.52%
2008      -0.45%
2009      1.81%
2010      1.55%
2011      -2.60%
2012      1.45%
2013      -0.22%
2014      -0.15%
2015      3.91%
2016      4.21%
2017      0.98%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              5.69%         Rank: 6 of 381 (98th Percentile)
Last Year  . . . . . . . . . . . . . . . .  11.4%          Rank: 20 of 381 (95th Percentile)
Last 5 Years                              14%            Rank: 265 of 381 (30th Percentile)
Last 10 Years  . . . . . . . . . . . .   15%            Rank: 113 of 381 (70th Percentile)
Last 20 Years                            93%            Rank: 137 of 379 (64th Percentile)


The change in home prices for Utica-Rome, NY are shown above for five time
periods. For example: Utica appreciated 5.69% in the Last Quarter. At that rate,
the Utica Real Estate Market was ranked 6th out of 381 metropolitan Real
Estate Markets. Utica was in the 98th percentile. So Utica, NY performed better
in the Last Quarter than 98% of the 381 metropolitan areas covered in
LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
1st Quarter, 2018 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 191.9
in the 1st Quarter, of 2018.  The Home Price Index indicates that the Utica
Market is up 15% over the last 10 years. Home prices in the Utica Real Estate
Market have gained 11.39% over the last 12 months. Over the last thirty years,
it is up 119%.

The 1st Quarter index value was 10.34 points higher than the 4th Quarter,
2017 index value of 181.59, resulting in a 5.69% rise in the 1st Quarter for the
Utica Market.

The Utica Home Price Index increased in the last quarter after falling in the
previous quarter. 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 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 30% 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
1st Quarter, 2018 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 1st Quarter of 2018, Utica Home Prices had a rank of 6, with
appreciation of 5.69%. 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, Utica Home Prices had a rank of 20, with
appreciation during the year of 11.39%. 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, Utica Home Prices ranked
265, with a total appreciation of 13.8%. 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, Utica Home Prices had a
rank of 113, with appreciation during the decade of 15%. 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, Utica Home Prices had a
rank of 137, with total growth over the 20 year period of 93%. 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 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.)



Data Source for Commentary & Charts: Federal Housing Finance Agency
Updated Monday, July 30, 2018.
SignalTrend  Inc. 2008 - 2018; All rights reserved.


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