.. this past week the 3rd quarter 2018 (2018Q3) Housing Price Index (HPI) was released for the U.S., states and metros. As a leading economic indicator, the HPI often gives insights into how the housing market and economy might be changing in the months ahead. The fact that the HPI data are quarterly and become available with a short lag time makes the measure even more valuable. This section provides an update on the HPI 2018Q3 and quarterly data for the past year. See the related Web page for more detailed data and access to the HPI data via interactive table.
Visual Analysis of 2017Q3-2018Q3 HPI Patterns
The following graphic shows housing value appreciation 2017Q3-2018Q3 by metro based on the HPI.
Click graphic for larger view and details. This view developed using CV XE GIS and related GIS project. Members of the ProximityOne User Group (join now, no fee) may used the CV XE GIS software and GIS project to create similar views with different HPI measures. Zoom-in. Add labels. Add other geography/data. Create views/graphics for reports and stories.
The Larger Picture
The HPI is calculated using home sales price information from Fannie Mae- and Freddie Mac-acquired mortgages. By itself, the HPI provides limited insights into the broader picture of “the why” and “how otherwise” states and metros are changing. The Situation & Outlook Metro Profiles provide an integrated view of the HPI measure in combination with other economic, demographic and business activity measure. View the HPI integrated with other subject matter … choose a metro. Metro Profiles are updated continuously and are available for each of the metropolitan area.
HPI Interactive Table
Use the HPI interactive table to view/rank/compare the non-seasonally adjusted “all transactions” HPI for the most recent 5 quarters for all Metropolitan Statistical Areas (MSAs), states and the U.S. The graphic shown below illustrates use of the interactive table to rank all metros in descending order on the percent change over the past year.
Updates & Related Measures
Quarterly HPI measures are used to updated the interactive table, GIS project and Metro Profiles. HPI by county, ZIP Code and census tract are updated annually. The 2018 county, ZIP Code and census tract HPI data are scheduled for release in February 2019.
Data Analytics Web Sessions
Join me in a Data Analytics Lab session to discuss more details about accessing and using wide-ranging demographic-economic data and data analytics. Learn more about using these data for areas and applications of interest.
About the Author
— Warren Glimpse is former senior Census Bureau statistician responsible for innovative data access and use operations. He is also the former associate director of the U.S. Office of Federal Statistical Policy and Standards for data access and use. He has more than 20 years of experience in the private sector developing data resources and tools for integration and analysis of geographic, demographic, economic and business data. Contact Warren. Join Warren on LinkedIn.