Utica, NY - House Price Index (HPI)
Utica Real Estate Market - Home Price Forecast
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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.
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Utica Real Estate Market: Trend Outlook, Analysis & Statistics
Commentary  2839.56
3rd 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 3rd 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 3rd Quarter of 2019 than they were in the 3rd
Quarter of 2018. Check this page each quarter for updates to the Utica Real
Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      70%

The forecast for the trend in the Utica housing market for the 3 years ending
with the 3rd Quarter of 2021 is UP. The Accuracy of the Trend Prediction 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 rising house prices in Utica is 70% 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 Utica Real Estate Market Forecast.




Part 2: MARKET SUMMARY
3rd Quarter, 2018 Housing Data: Utica, New York


Historical Home Price Appreciation
Last Quarter                         1.07%
Last Year                              5.5%
Last 5 Years                         17%
Last 10 Years                       16%
Last 20 Years                       93%



Annual Home Price Appreciation Rates
1988      7.79%
1989      5.78%
1990      1.70%
1991      3.57%
1992      1.23%
1993      -0.53%
1994      -9.81%
1995      0.46%
1996      -0.77%
1997      -2.12%
1998      5.43%
1999      2.50%
2000      2.58%
2001      8.27%
2002      5.20%
2003      6.16%
2004      5.82%
2005      7.81%
2006      8.31%
2007      3.51%
2008      -0.44%
2009      1.86%
2010      1.40%
2011      -2.66%
2012      1.57%
2013      -0.08%
2014      -0.06%
2015      4.17%
2016      3.33%
2017      1.34%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              1.07%         Rank: 241 of 381 (36th Percentile)
Last Year  . . . . . . . . . . . . . . . .  5.5%           Rank: 224 of 381 (41st Percentile)
Last 5 Years                              17%            Rank: 270 of 381 (29th Percentile)
Last 10 Years  . . . . . . . . . . . .   16%            Rank: 198 of 381 (48th Percentile)
Last 20 Years                            93%            Rank: 152 of 379 (60th Percentile)


The change in home prices for Utica-Rome, NY are shown above for five time
periods. For example: Utica appreciated 1.07% in the Last Quarter. At that rate,
the Utica Real Estate Market was ranked 241st out of 381 metropolitan Real
Estate Markets. Utica was in the 36th percentile. So Utica, NY performed better
in the Last Quarter than 36% of the 381 metropolitan areas covered in
LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
3rd 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 193.1
in the 3rd Quarter, of 2018.  The Home Price Index indicates that the Utica
Market is up 16% over the last 10 years. Home prices in the Utica Real Estate
Market have gained 5.53% over the last 12 months. Over the last thirty years, it
is up 100%.

The 3rd Quarter index value was 2.05 points higher than the 2nd Quarter, 2018
index value of 191.02, resulting in a 1.07% rise in the 3rd Quarter for the Utica
Market.

The Utica Home Price Index has increased for 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 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 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
3rd 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 3rd Quarter of 2018, Utica Home Prices had a rank of 241, with
appreciation of 1.07%. 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, Utica Home Prices had a rank of 224, with
appreciation during the year of 5.53%. 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, Utica Home Prices ranked
270, with a total appreciation of 16.7%. 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, Utica Home Prices had a
rank of 198, with appreciation during the decade of 16%. 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, Utica Home Prices had a
rank of 152, 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 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 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 Friday, February 1, 2019.
SignalTrend  Inc. 2008 - 2019; All rights reserved.




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