Norwich, CT - House Price Index (HPI)
Norwich Real Estate Market - Home Price Forecast
The House Price Index (HPI) shows changes in Norwich-New London, CT 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.
Norwich Real Estate Market: Trend Outlook, Analysis & Statistics
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Commentary  2734.56
3rd Quarter, 2018 Housing Statistics: Norwich, Connecticut


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:      DOWN
Forecast Accuracy:      78%

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 Norwich housing market for the 12
months ending with the 3rd Quarter of 2019 is DOWN. The Accuracy of the
Trend Projection for Norwich is 78%. In other words, when tested against
historical data, the forecasting methodology was correct 78% of the time.
Accordingly, LittleBigHomes.com estimates that the probability for falling house
prices in Norwich is 78% during this period. If this Housing Market Forecast is
correct, home prices will be lower in the 3rd Quarter of 2019 than they were in
the 3rd Quarter of 2018. Check this page each quarter for updates to the
Norwich Real Estate Market Forecast.


3 Year Forecast:          DOWN
Forecast Accuracy:      72%

The forecast for the trend in the Norwich housing market for the 3 years ending
with the 3rd Quarter of 2021 is DOWN. The Accuracy of the Trend Prediction
for Norwich 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 falling house prices in
Norwich is 72% during this period. If this Housing Market Forecast is correct,
home values will be lower in the 3rd Quarter of 2021 than they were in the 3rd
Quarter of 2018. Check this page each quarter for updates to the Norwich Real
Estate Market Forecast.




Part 2: MARKET SUMMARY
3rd Quarter, 2018 Housing Data: Norwich, Connecticut


Historical Home Price Appreciation
Last Quarter                         -0.89%
Last Year                              -0.7%
Last 5 Years                         8%
Last 10 Years                       -11%
Last 20 Years                       70%
Decline From All Time High   16.76%


Annual Home Price Appreciation Rates
1988      12.69%
1989      -2.81%
1990      -5.88%
1991      -4.47%
1992      -3.10%
1993      0.02%
1994      -4.60%
1995      4.26%
1996      -0.67%
1997      5.79%
1998      2.06%
1999      5.27%
2000      6.53%
2001      9.88%
2002      11.62%
2003      11.03%
2004      12.95%
2005      12.58%
2006      2.82%
2007      -1.09%
2008      -6.71%
2009      -6.02%
2010      -1.30%
2011      -3.87%
2012      -4.06%
2013      -3.27%
2014      1.70%
2015      1.45%
2016      1.42%
2017      3.87%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              -0.89%        Rank: 342 of 381 (10th Percentile)
Last Year  . . . . . . . . . . . . . . . .  -0.7%          Rank: 368 of 381 (3rd Percentile)
Last 5 Years                              8%              Rank: 356 of 381 (6th Percentile)
Last 10 Years  . . . . . . . . . . . .   -11%           Rank: 377 of 381 (1st Percentile)
Last 20 Years                            70%            Rank: 241 of 379 (36th Percentile)
Decline From All Time High        16.76%

The change in home prices for Norwich-New London, CT are shown above for
five time periods. For example: Norwich appreciated -0.89% in the Last Quarter.
At that rate, the Norwich Real Estate Market was ranked 342nd out of 381
metropolitan Real Estate Markets. Norwich was in the 10th percentile. So
Norwich, CT performed better in the Last Quarter than 10% of the 381
metropolitan areas covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
3rd Quarter, 2018 Housing Statistics: Norwich, Connecticut

The data and analysis on this page pertains to Norwich-New London, CT,
hereinafter referred to as "Norwich". The all time high in the Norwich Home Price
Index was 226.2 in the 4th Quarter, of 2006. The 3rd Quarter, 2018 index value
was 188.3. That's a decline of 37.90 points or 16.76% below the Norwich Home
Price Index all time high.  The Home Price Index indicates that the Norwich
Market is down 11% over the last 10 years. Home Prices in the Norwich Real
Estate Market have lost 0.66% over the last 12 months. Over the last thirty
years, it is up 54%.

The 3rd Quarter index value was 1.70 points lower than the 2nd Quarter, 2018
index value of 189.97, resulting in a 0.89% decline for the 3rd Quarter in the
Norwich Market.

The Norwich 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 Winchester, VA; Trenton, NJ; Peoria, IL; Great Falls,
MT and Fayetteville, NC, 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 29
consecutive quarters.

The highest annual change in the value of houses in the Norwich Real Estate
Market was 25% in the twelve months ended with the 1st Quarter of 1988. The
worst annual change in home values  in the Norwich Market was -7% in the
twelve months ended with the 2nd Quarter of 1991.

The highest growth in home values in the Norwich Real Estate Market over a
three year period was 67% in the three years ended with the 4th Quarter of
1988. The worst performance over a three year period in the Norwich Market
was -16% in the three years ended with the 2nd Quarter of 2011.

This page provides a long term graph of the Norwich Home Price Index (above).
For information about Connecticut 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 Norwich 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 Norwich 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 Norwich 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, 2018 Housing Data: Norwich, Connecticut

The trend of Norwich 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 Norwich-New London, CT, hereinafter referred to as "Norwich".

Last Quarter:
During the 3rd Quarter of 2018, Norwich Home Prices had a rank of 342, with
appreciation of -0.89%. The top performing real estate market during the 3rd
Quarter was Sumter, SC, with a rise of 13.55%. The worst market during that
period was Cumberland, MD, with appreciation of -5.75%.
The median for all cities during the 3rd Quarter was 1.57%. The average for all
markets during the quarter was 1.54%.

Last Year:
During the last 12 months, Norwich Home Prices had a rank of 368, with
appreciation during the year of -0.66%. The top performing market during the
last year was Las Vegas, NV, with an increase of 18.1%. The worst real estate
market during that period was Cumberland, MD, with appreciation of -5.6%.
The median for all markets during this period was 6.14%. The average was
6.07%.

Last 5 Years:
Over the 5 years ended with the 3rd Quarter of 2018, Norwich Home Prices
ranked 356, with a total appreciation of 7.7%. The top performing real estate
market during the 5 year period was Reno, NV, with a growth in value of 81%.
The worst market during that period was Jacksonville, NC, with appreciation of
-2%.
The median for all cities during this time period was 24%. The average over the
5 years was 28%.

Last 10 Years:
During the 10 years ended in the 3rd Quarter of 2018, Norwich Home Prices
had a rank of 377, with appreciation during the decade of -11%. The top
performing market during the period was Denver, CO, with a rise of 83%. The
worst real estate market during the 10 year time period was Vineland, NJ, with
appreciation of -19%.
The median for all markets during the last 10 years was 18%. The average for
the cities over that time frame was 20%.

Last 20 Years:
During the 20 years ended in the 3rd Quarter of 2018, Norwich Home Prices
had a rank of 241, 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 289%. The worst market during the last 20 years was Saginaw, MI,
with appreciation of 21%.
The median for all cities during the last 20 years was 83%. The average for the
markets over that time frame was 92%.

Historical research data on the Home Price Index for the Norwich Real Estate
Market is available back to the 4th Quarter, of 1985. All calculations are based
on the quarterly value of the House Price Index for Norwich. 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 Thursday, January 3, 2019.
SignalTrend  Inc. 2008 - 2019; All rights reserved.





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