Virginia Beach, VA - House Price Index (HPI)
100
1000
The House Price Index (HPI) shows changes in Virginia Beach-Norfolk-Newport News, VA-NC 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
Virginia Beach Real Estate Market: Trend Outlook, Analysis & Statistics
Virginia Beach Real Estate Market - Home Price Forecast
Commentary  27180
2nd Quarter, 2017 Housing Statistics: Virginia Beach, Virginia


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:        UP
Forecast Accuracy:      92%

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 Virginia Beach housing market for the
12 months ending with the 2nd Quarter of 2018 is UP. The Accuracy of the
Trend Projection for Virginia Beach is 92%. In other words, when tested against
historical data, the forecasting methodology was correct 92% of the time.
Accordingly, LittleBigHomes.com estimates that the probability for rising house
prices in Virginia Beach is 92% during this period. If this Housing Market
Forecast is correct, home prices will be higher in the 2nd Quarter of 2018 than
they were in the 2nd Quarter of 2017. Check this page each quarter for
updates to the Virginia Beach Real Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      87%

The forecast for the trend in the Virginia Beach housing market for the 3 years
ending with the 2nd Quarter of 2020 is UP. The Accuracy of the Trend
Prediction for Virginia Beach is 87%. In other words, when tested against
historical data, the forecasting methodology was correct 87% of the time.
Accordingly, LittleBigHomes.com estimates that the probability for rising house
prices in Virginia Beach is 87% during this period. If this Housing Market
Forecast is correct, home values will be higher in the 2nd Quarter of 2020 than
they were in the 2nd Quarter of 2017. Check this page each quarter for
updates to the Virginia Beach Real Estate Market Forecast.




Part 2: MARKET SUMMARY
2nd Quarter, 2017 Housing Data: Virginia Beach, Virginia


Historical Home Price Appreciation
Last Quarter                         1.95%
Last Year                              2.9%
Last 5 Years                         10%
Last 10 Years                       -11%
Last 20 Years                       113%
Decline From All Time High   10.89%


Annual Home Price Appreciation Rates
1987      4.96%
1988      3.82%
1989      2.77%
1990      0.14%
1991      2.20%
1992      2.32%
1993      1.65%
1994      0.30%
1995      3.35%
1996      1.64%
1997      3.05%
1998      3.10%
1999      3.06%
2000      4.50%
2001      6.30%
2002      7.57%
2003      12.09%
2004      20.97%
2005      22.64%
2006      9.59%
2007      1.27%
2008      -4.45%
2009      -5.83%
2010      -2.60%
2011      -5.25%
2012      -1.37%
2013      -1.23%
2014      4.41%
2015      1.92%
2016      2.00%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              1.95%         Rank: 241 of 381 (36th Percentile)
Last Year  . . . . . . . . . . . . . . . .  2.9%           Rank: 292 of 381 (23rd Percentile)
Last 5 Years                              10%            Rank: 289 of 381 (24th Percentile)
Last 10 Years  . . . . . . . . . . . .   -11%           Rank: 320 of 381 (16th Percentile)
Last 20 Years                            113%          Rank: 88 of 379 (76th Percentile)
Decline From All Time High        10.89%

The change in home prices for Virginia Beach-Norfolk-Newport News, VA-NC
are shown above for five time periods. For example: Virginia Beach appreciated
1.95% in the Last Quarter. At that rate, the Virginia Beach Real Estate Market
was ranked 241st out of 381 metropolitan Real Estate Markets. Virginia Beach
was in the 36th percentile. So Virginia Beach, VA performed better in the Last
Quarter than 36% of the 381 metropolitan areas covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
2nd Quarter, 2017 Housing Statistics: Virginia Beach, Virginia

The data and analysis on this page pertains to Virginia Beach-Norfolk-Newport
News, VA-NC, hereinafter referred to as "Virginia Beach". The all time high in
the Virginia Beach Home Price Index was 254.4 in the 2nd Quarter, of 2007.
The 2nd Quarter, 2017 index value was 226.7. That's a decline of 27.71 points
or 10.89% below the Virginia Beach Home Price Index all time high.  The Home
Price Index indicates that the Virginia Beach Market is down 11% over the last
10 years. Home prices in the Virginia Beach Real Estate Market have gained
2.87% over the last 12 months. Over the last thirty years, it is up 163%.

The 2nd Quarter index value was 4.33 points higher than the 1st Quarter, 2017
index value of 222.37, resulting in a 1.95% rise in the 2nd Quarter for the
Virginia Beach Market.

The Virginia Beach Home Price Index increased in the last quarter after falling
in the previous 2 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 24 consecutive quarters. The current record
holders for consecutive declines in the Home Price Index are Manhattan, KS
and Longview, TX, with declines in the last 3 consecutive quarters.

The highest annual change in the value of houses in the Virginia Beach Real
Estate Market was 25% in the twelve months ended with the 2nd Quarter of
2005. The worst annual change in home values  in the Virginia Beach Market
was -7% in the twelve months ended with the 3rd Quarter of 2011.

The highest growth in home values in the Virginia Beach Real Estate Market
over a three year period was 70% in the three years ended with the 2nd
Quarter of 2006. The worst performance over a three year period in the Virginia
Beach Market was -15% in the three years ended with the 2nd Quarter of 2011.

This page provides a long term graph of the Virginia Beach Home Price Index
(above). For information about Virginia 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 Virginia Beach 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 Virginia Beach 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 Virginia Beach 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
2nd Quarter, 2017 Housing Data: Virginia Beach, Virginia

The trend of Virginia Beach 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 Virginia Beach-Norfolk-Newport News, VA-NC, hereinafter referred to as
"Virginia Beach".

Last Quarter:
During the 2nd Quarter of 2017, Virginia Beach Home Prices had a rank of 241,
with appreciation of 1.95%. The top performing real estate market during the
2nd Quarter was Weirton, OH, with a rise of 14.58%. The worst market during
that period was Bangor, ME, with appreciation of -4.77%.
The median for all cities during the 2nd Quarter was 2.58%. The average for all
markets during the quarter was 2.50%.

Last Year:
During the last 12 months, Virginia Beach Home Prices had a rank of 292, with
appreciation during the year of 2.87%. The top performing market during the
last year was Mount Vernon, WA, with an increase of 15.1%. The worst real
estate market during that period was Pine Bluff, AR, with appreciation of -7.9%.
The median for all markets during this period was 5.39%. The average was
5.53%.

Last 5 Years:
Over the 5 years ended with the 2nd Quarter of 2017, Virginia Beach Home
Prices ranked 289, with a total appreciation of 10.4%. The top performing real
estate market during the 5 year period was Reno, NV, with a growth in value of
93%. The worst market during that period was Jacksonville, NC, with
appreciation of -3%.
The median for all cities during this time period was 18%. The average over the
5 years was 25%.

Last 10 Years:
During the 10 years ended in the 2nd Quarter of 2017, Virginia Beach Home
Prices had a rank of 320, with appreciation during the decade of -11%. The top
performing market during the period was Austin, TX, with a rise of 62%. The
worst real estate market during the 10 year time period was Atlantic City, NJ,
with appreciation of -29%.
The median for all markets during the last 10 years was 4%. The average for
the cities over that time frame was 5%.

Last 20 Years:
During the 20 years ended in the 2nd Quarter of 2017, Virginia Beach Home
Prices had a rank of 88, with total growth over the 20 year period of 113%. The
top performing real estate market during the period was San Francisco, CA,
with an increase of 289%. The worst market during the last 20 years was
Saginaw, MI, with appreciation of 20%.
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 Virginia Beach Real
Estate Market is available back to the 2nd Quarter, of 1977. All calculations are
based on the quarterly value of the House Price Index for Virginia Beach. 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, October 30, 2017.
SignalTrend  Inc. 2008 - 2017; All rights reserved.


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