Philadelphia, PA - House Price Index (HPI)
Philadelphia Real Estate Market - Home Price Forecast
The House Price Index (HPI) shows changes in Philadelphia, PA 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.
Philadelphia Real Estate Market: Trend Outlook, Analysis & Statistics
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Commentary  2755.56
3rd Quarter, 2018 Housing Statistics: Philadelphia, Pennsylvania


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:        UP
Forecast Accuracy:      81%

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 Philadelphia housing market for the 12
months ending with the 3rd Quarter of 2019 is UP. The Accuracy of the Trend
Projection for Philadelphia is 81%. In other words, when tested against historical
data, the forecasting methodology was correct 81% of the time. Accordingly,
LittleBigHomes.com estimates that the probability for rising house prices in
Philadelphia is 81% during this period. If this Housing Market Forecast is
correct, home prices will be higher in the 3rd Quarter of 2019 than they were in
the 3rd Quarter of 2018. Check this page each quarter for updates to the
Philadelphia Real Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      74%

The forecast for the trend in the Philadelphia housing market for the 3 years
ending with the 3rd Quarter of 2021 is UP. The Accuracy of the Trend
Prediction for Philadelphia 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 rising house prices in
Philadelphia is 74% during this period. If this Housing Market Forecast is
correct, home values will be higher in the 3rd Quarter of 2021 than they were in
the 3rd Quarter of 2018. Check this page each quarter for updates to the
Philadelphia Real Estate Market Forecast.




Part 2: MARKET SUMMARY
3rd Quarter, 2018 Housing Data: Philadelphia, Pennsylvania


Historical Home Price Appreciation
Last Quarter                         1.32%
Last Year                              6.7%
Last 5 Years                         27%
Last 10 Years                       18%
Last 20 Years                       152%



Annual Home Price Appreciation Rates
1988      11.99%
1989      4.74%
1990      0.98%
1991      2.07%
1992      1.25%
1993      0.69%
1994      -4.77%
1995      3.10%
1996      -0.89%
1997      1.83%
1998      3.68%
1999      2.08%
2000      5.90%
2001      10.14%
2002      11.01%
2003      11.24%
2004      16.67%
2005      15.49%
2006      6.21%
2007      1.58%
2008      -2.26%
2009      -3.25%
2010      -0.36%
2011      -3.35%
2012      -0.40%
2013      1.01%
2014      2.51%
2015      2.45%
2016      5.57%
2017      7.42%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              1.32%         Rank: 220 of 381 (42nd Percentile)
Last Year  . . . . . . . . . . . . . . . .  6.7%           Rank: 161 of 381 (57th Percentile)
Last 5 Years                              27%            Rank: 166 of 381 (56th Percentile)
Last 10 Years  . . . . . . . . . . . .   18%            Rank: 189 of 381 (50th Percentile)
Last 20 Years                            152%          Rank: 39 of 379 (89th Percentile)


The change in home prices for Philadelphia, PA are shown above for five time
periods. For example: Philadelphia appreciated 1.32% in the Last Quarter. At
that rate, the Philadelphia Real Estate Market was ranked 220th out of 381
metropolitan Real Estate Markets. Philadelphia was in the 42nd percentile. So
Philadelphia, PA performed better in the Last Quarter than 42% of the 381
metropolitan areas covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
3rd Quarter, 2018 Housing Statistics: Philadelphia, Pennsylvania

The all time high in the Philadelphia Home Price Index was 269.5 in the 3rd
Quarter, of 2018.  The Home Price Index indicates that the Philadelphia Market
is up 18% over the last 10 years. Home prices in the Philadelphia Real Estate
Market have gained 6.70% over the last 12 months. Over the last thirty years, it
is up 184%.

The 3rd Quarter index value was 3.52 points higher than the 2nd Quarter, 2018
index value of 265.94, resulting in a 1.32% rise in the 3rd Quarter for the
Philadelphia Market.

The Philadelphia Home Price Index has increased for the last 22 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 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 highest annual change in the value of houses in the Philadelphia Real
Estate Market was 18% in the twelve months ended with the 2nd Quarter of
2005. The worst annual change in home values  in the Philadelphia Market was
-5% in the twelve months ended with the 1st Quarter of 1995.

The highest growth in home values in the Philadelphia Real Estate Market over
a three year period was 50% in the three years ended with the 4th Quarter of
2005. The worst performance over a three year period in the Philadelphia
Market was -9% in the three years ended with the 2nd Quarter of 2011.

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

The trend of Philadelphia 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 3rd Quarter of 2018, Philadelphia Home Prices had a rank of 220,
with appreciation of 1.32%. 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, Philadelphia Home Prices had a rank of 161, with
appreciation during the year of 6.70%. 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, Philadelphia Home Prices
ranked 166, with a total appreciation of 26.6%. 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, Philadelphia Home
Prices had a rank of 189, with appreciation during the decade of 18%. 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, Philadelphia Home
Prices had a rank of 39, with total growth over the 20 year period of 152%. 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 Philadelphia Real
Estate Market is available back to the 1st Quarter, of 1976. All calculations are
based on the quarterly value of the House Price Index for Philadelphia. 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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