Grand Forks, ND - House Price Index (HPI)
The House Price Index (HPI) shows changes in Grand Forks, ND-MN 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.
Grand Forks Real Estate Market: Trend Outlook, Analysis & Statistics
Grand Forks Real Estate Market Forecast
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Commentary  2622.56
3rd Quarter, 2018 Housing Statistics: Grand Forks, North Dakota


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:      DOWN
Forecast Accuracy:      80%

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 Grand Forks housing market for the 12
months ending with the 3rd Quarter of 2019 is DOWN. The Accuracy of the
Trend Projection for Grand Forks is 80%. In other words, when tested against
historical data, the forecasting methodology was correct 80% of the time.
Accordingly, LittleBigHomes.com estimates that the probability for falling house
prices in Grand Forks is 80% 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
Grand Forks Real Estate Market Forecast.


3 Year Forecast:          DOWN
Forecast Accuracy:      90%

The forecast for the trend in the Grand Forks housing market for the 3 years
ending with the 3rd Quarter of 2021 is DOWN. The Accuracy of the Trend
Prediction for Grand Forks is 90%. In other words, when tested against
historical data, the forecasting methodology was correct 90% of the time.
Accordingly, LittleBigHomes.com estimates that the probability for falling house
prices in Grand Forks is 90% 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
Grand Forks Real Estate Market Forecast.




Part 2: MARKET SUMMARY
3rd Quarter, 2018 Housing Data: Grand Forks, North Dakota


Historical Home Price Appreciation
Last Quarter                                     -0.60%
Last Year . . . . . . . . . . . . . . . . . . . .  -1.9%
Last 5 Years                                     21%
Last 10 Years . . . . . . . . . . . . . . . . . 40%
Last 20 Years                                   111%
Decline From All Time High               1.88%


Annual Home Price Appreciation Rates
1988        n/a
1989      7.75%
1990      1.13%
1991      2.61%
1992      5.24%
1993      7.41%
1994      10.32%
1995      1.75%
1996      1.21%
1997      7.43%
1998      0.68%
1999      -1.46%
2000      3.76%
2001      4.21%
2002      4.37%
2003      5.99%
2004      9.30%
2005      9.89%
2006      3.12%
2007      4.08%
2008      1.78%
2009      -0.32%
2010      0.03%
2011      3.35%
2012      3.41%
2013      10.37%
2014      6.14%
2015      4.23%
2016      3.89%
2017      0.54%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              -0.60%        Rank: 333 of 381 (12th Percentile)
Last Year  . . . . . . . . . . . . . . . .  -1.9%          Rank: 376 of 381 (1st Percentile)
Last 5 Years                              21%            Rank: 220 of 381 (42nd Percentile)
Last 10 Years  . . . . . . . . . . . .   40%            Rank: 44 of 381 (88th Percentile)
Last 20 Years                            111%          Rank: 110 of 379 (71st Percentile)
Decline From All Time High        1.88%

The change in home prices for Grand Forks, ND-MN are shown above for five
time periods. For example: Grand Forks appreciated -0.60% in the Last
Quarter. At that rate, the Grand Forks Real Estate Market was ranked 333rd
out of 381 metropolitan Real Estate Markets. Grand Forks was in the 12th
percentile. So Grand Forks, ND performed better in the Last Quarter than 12%
of the 381 metropolitan areas covered in LittleBigHomes.com.

























Part 3: MARKET HIGHLIGHTS
3rd Quarter, 2018 Housing Statistics: Grand Forks, North Dakota

The all time high in the Grand Forks Home Price Index was 246.7 in the 3rd
Quarter, of 2017. The 3rd Quarter, 2018 index value was 242.1. That's a
decline of 4.64 points or 1.88% below the Grand Forks Home Price Index all
time high.  The Home Price Index indicates that the Grand Forks Market is up
40% over the last 10 years. Home Prices in the Grand Forks Real Estate
Market have lost 1.88% over the last 12 months. Over the last thirty years, it is
up 217%.

The 3rd Quarter index value was 1.47 points lower than the 2nd Quarter, 2018
index value of 243.55, resulting in a 0.60% decline for the 3rd Quarter in the
Grand Forks Market.

The Grand Forks 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 Grand Forks Real
Estate Market was 14% in the twelve months ended with the 2nd Quarter of
1994. The worst annual change in home values  in the Grand Forks Market was
-3% in the twelve months ended with the 2nd Quarter of 1997.

The highest growth in home values in the Grand Forks Real Estate Market over
a three year period was 28% in the three years ended with the 1st Quarter of
2006. The worst performance over a three year period in the Grand Forks
Market was 0% in the three years ended with the 1st Quarter of 2011.

This page provides a long term graph of the Grand Forks Home Price Index
(above). For information about North Dakota 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 Grand Forks 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 Grand Forks 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 Grand Forks 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: Grand Forks, North Dakota

The trend of Grand Forks 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, Grand Forks Home Prices had a rank of 333,
with appreciation of -0.60%. 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, Grand Forks Home Prices had a rank of 376, with
appreciation during the year of -1.88%. 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, Grand Forks Home
Prices ranked 220, with a total appreciation of 21.0%. 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, Grand Forks Home
Prices had a rank of 44, with appreciation during the decade of 40%. 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, Grand Forks Home
Prices had a rank of 110, with total growth over the 20 year period of 111%.
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 Grand Forks Real
Estate Market is available back to the 1st Quarter, of 1990. All calculations are
based on the quarterly value of the House Price Index for Grand Forks. 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 Saturday, December 29, 2018.
SignalTrend  Inc. 2008 - 2018; All rights reserved.




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