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Erie, PA - House Price Index (HPI) - 23 Year Chart
Erie Real Estate Market
100
1000
The House Price Index (HPI) shows changes in Erie, PA single family home prices in logarithmic
scale. The March, 1995 index value equals 100.  Updated Thursday, April 19, 2012. Real estate
forecasts, analysis, statistics and appreciation rates are provided below.
Erie Real Estate Index: 23 Year Chart
Home Values Appreciation Rate - US Cities
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Erie Real Estate Market: Trend, Analysis & Statistics
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Commentary  10168
4th Quarter, 2011 Housing Statistics: Erie, Pennsylvania


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:        UP
Forecast Accuracy:      89%

Forecast-Chart.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 Erie housing market for the 12 months
ending with the 4th Quarter of 2012 is UP. The Accuracy of the Trend Forecast
for Erie is 89%. In other words, when tested against historical data, the
forecasting methodology was correct 89% of the time. Accordingly,
Forecast-Chart.com estimates that the probability for rising house prices in Erie
is 89% during this period. If this Housing Market Forecast is correct, home
prices will be higher in the 4th Quarter of 2012 than they were in the 4th
Quarter of 2011. Check this page each quarter for updates to the Erie Real
Estate Market Forecast.


3 Year Forecast:            UP
Forecast Accuracy:      97%

The forecast for the trend in the Erie housing market for the 3 years ending with
the 4th Quarter of 2014 is UP. The Accuracy of the Trend Forecast for Erie is
97%. In other words, when tested against historical data, the forecasting
methodology was correct 97% of the time. Accordingly, Forecast-Chart.com
estimates that the probability for rising house prices in Erie is 97% during this
period. If this Housing Market Forecast is correct, home prices will be higher in
the 4th Quarter of 2014 than they were in the 4th Quarter of 2011. Check this
page each quarter for updates to the Erie Real Estate Market Forecast.




Part 2: MARKET SUMMARY
4th Quarter, 2011 Housing Data: Erie, Pennsylvania


Historical Home Price Appreciation
Last Quarter                                     1.88%
Last Year . . . . . . . . . . . . . . . . . . . .  0.6%
Last 5 Years                                     6%
Last 10 Years . . . . . . . . . . . . . . . . . 24%
Last 20 Years                                   79%



Annual Home Price Appreciation Rates
1982        n/a
1983        n/a
1984        n/a
1985      4.01%
1986      5.07%
1987      8.21%
1988      -3.63%
1989      11.39%
1990      8.00%
1991      4.82%
1992      5.31%
1993      4.92%
1994      3.12%
1995      4.84%
1996      4.05%
1997      2.48%
1998      3.71%
1999      0.94%
2000      4.46%
2001      3.94%
2002      2.97%
2003      3.43%
2004      3.68%
2005      2.74%
2006      2.63%
2007      2.31%
2008      0.05%
2009      1.73%
2010      1.36%
2011      0.56%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              1.88%         Rank: 42 of 381 (89th Percentile)
Last Year  . . . . . . . . . . . . . . . .  0.6%           Rank: 33 of 381 (91st Percentile)
Last 5 Years                              6%              Rank: 35 of 381 (91st Percentile)
Last 10 Years  . . . . . . . . . . . .   24%            Rank: 201 of 381 (47th Percentile)
Last 20 Years                            79%            Rank: 209 of 355 (41st Percentile)


Home Price appreciation rates for Erie, PA are shown above for five time
periods. For example: Erie appreciated 1.88% in the Last Quarter. At that rate,
the Erie Real Estate Market was ranked 42nd out of 381 metropolitan areas for
Real Estate Appreciation. Erie was in the 89th percentile. So Erie, PA
performed better in the Last Quarter than 89% of the 381 metropolitan areas
covered in Forecast-Chart.com.

























Part 3: MARKET HIGHLIGHTS
4th Quarter, 2011 Housing Statistics: Erie, Pennsylvania

The all time high in the Erie Home Price Index was 152.1 in the 4th Quarter, of
2011.  The Home Price Index indicates that the Erie Market is up 24% over the
last 10 years. Home prices in the Erie Real Estate Market have gained 0.56%
over the last 12 months.

The 4th Quarter index value was 2.80 points higher than the 3rd Quarter, 2011
index value of 149.28, resulting in a 1.88% rise in the 4th Quarter for the Erie
Market.

The Erie Home Price Index increased in the last quarter after falling in the
previous quarter. The current record holders for consecutive increases in the
Home Price Index are Wheeling, WV; Washington, DC; St. Cloud, MN and
Grand Forks, ND, with increases in the last 4 consecutive quarters. The current
record holder for consecutive declines in the Home Price Index is Las Vegas,
NV, with declines in the last 20 consecutive quarters.

The highest annual home appreciation rate in the Erie Real Estate Market was
11% in the twelve months ended with the 4th Quarter of 1989. The worst annual
home appreciation rate in the Erie Market was -4% in the twelve months ended
with the 4th Quarter of 1988.

The highest home appreciation in the Erie Real Estate Market over a three year
period was 26% in the three years ended with the 4th Quarter of 1991. The
worst home appreciation over a three year period in the Erie Market was 1% in
the three years ended with the 1st Quarter of 2010.

This page provides a long term graph of the Erie Home Price Index (above).
The house price chart has been updated through the 4th Quarter of 2011. For
more information about Erie Home Prices, look at the links under that chart.
One link opens a long term chart of historical appreciation rates for the Erie
Real Estate Market. Another opens a forecast for appreciation rates in the state
of Pennsylvania. Just one glance at Forecast-Chart.com's long term charts can
provide tremendous insight into the historical trends of residential property
values. Bookmark this page! Then Forecast-Chart.com's detailed research and
statistics about Erie Home Prices will be at your fingertips when you need them.

Historical data on the Erie Home Price Index is available back to the 2nd
Quarter, of 1985. All calculations are based on the quarterly value of the House
Price Index for the Erie 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 Erie 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
4th Quarter, 2011 Housing Data: Erie, Pennsylvania

The appreciation of Erie 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 4th Quarter of 2011, Erie Home Prices had a rank of 42, with
appreciation of 1.88%. The top performing real estate market during the 4th
Quarter was Vineland, NJ, with appreciation of 6.09%. The worst market during
that period was Valdosta, GA, with appreciation of -5.24%.
The median appreciation for all cities during the 4th Quarter was 0.24%. The
average appreciation for all markets during the quarter was 0.29%.

Last Year:
During the last 12 months, Erie Home Prices had a rank of 33, with appreciation
during the year of 0.56%. The top performing market during the last year was
Midland, TX, with appreciation of 4.7%. The worst real estate market during that
period was Carson City, NV, with appreciation of -18.1%.
The median appreciation for all markets during this period was -2.61%. The
average appreciation was -2.93%.

Last 5 Years:
Over the 5 years ended with the 4th Quarter of 2011, Erie Home Prices ranked
35, with a total appreciation of 6.1%. The top performing real estate market
during the 5 year period was Midland, TX, with appreciation of 23%. The worst
market during that period was Merced, CA, with appreciation of -62%.
The median appreciation for all cities during this time period was -7%. The
average appreciation over the 5 years was -11%.

Last 10 Years:
During the 10 years ended in the 4th Quarter of 2011, Erie Home Prices had a
rank of 201, with appreciation during the decade of 24%. The top performing
market during the period was Midland, TX, with appreciation of 92%. The worst
real estate market during the 10 year time period was Detroit, MI, with
appreciation of -29%.
The median appreciation for all markets during the last 10 years was 24%. The
average appreciation for the cities over that time frame was 25%.

Last 20 Years:
During the 20 years ended in the 4th Quarter of 2011, Erie Home Prices had a
rank of 209, with total appreciation over the 20 year period of 79%. The top
performing real estate market during the period was Casper, WY, with
appreciation of 222%. The worst market during the last 20 years was Las
Vegas, NV, with appreciation of 5%.
The median appreciation for all cities during the last 20 years was 85%. The
average appreciation for the markets over that time frame was 87%.

Historical research data on the Home Price Index for the Erie Real Estate
Market is available back to the 2nd Quarter, of 1985. All calculations are based
on the quarterly value of the House Price Index for Erie. Real estate
appreciation figures represent total appreciation over each time period. (Unless
specifically stated, the appreciation figures do not represent annual or quarterly
rates of appreciation.)




























































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