Tag Archives: real estate analysis

Housing Price Index Updates & Trends

.. this past week we have updated Housing Price Index data and tools to examine patterns and trends for the U.S., states, metros and counties .. the Housing Price Index (HPI) is one of many measures useful to gain insights into the housing market. The HPI provides information on how housing value appreciation is changing for areas of interest. Use the interactive table to view, compare, sort metros/CBSAs based on annual HPI 2010-2017 and housing value appreciation during the period. These annual data, with a 2000 base index value of 100, provide insights into longer term patterns.  The HPI is alos updated quarterly for U.S./state/metro areas quarterly for analyses requiring more recent data.  These data are new as of February 2018.

Visual Analysis of Housing Price Appreciation
The following graphic shows housing value appreciation as of 2017 based on the HPI with 2000 base of 100 by county in the Charlotte, NC-SC metro area. See more about by HPI by county for the Charlotte metro.

– view developed using CV XE GIS and related GIS project.
– Click graphic for larger view and details.

See similar HPI 2017 patterns view for the Houston, TX metro.

Housing Price Appreciation 2010-2017 — Largest 10 Metros
This table, derived from the  interactive table, shows the largest 10 metros based on total population. the HPI 2010, HPI 2017, housing price appreciation 2010-2017 and total population are presented in the table. Click the CBSA code link to view HPI by county component for the metro and an extended series.

 Metro CBSA HPI2010 HPI2017 HPA1017 Pop2016
 New York   35620 159.53 172.76 8.29 20,153,634
 Los Angeles   31080 169.83 242.78 42.95 13,310,447
 Chicago   16980 117.48 124.58 6.04 9,512,999
 Dallas   19100 120.89 175.35 45.05 7,233,323
 Houston   26420 134.02 183.52 36.93 6,772,470
 Washington   47900 166.82 198.74 19.13 6,131,977
 PhiladelphiaA   37980 157.26 162.91 3.59 6,070,500
 Miami   33100 140.43 213.91 52.33 6,066,387
 Atlanta   12060 103.95 129.24 24.33 5,789,700
 Boston   14460 134.33 165.27 23.03 4,794,447

– Metro names abbreviated; use table to view full name and code.

Using the HPI Annual 2010-2017 Interactive Table
The following graphic illustrates use of the HPI Annual 2010-2017 interactive table. Click graphic for larger view. This view shows metros in the 250,000-300,000 population peer group. Set your own criteria using tools below the table. There are 23 metros in this group. The table has been sorted on housing price appreciation (HPA) from 2010-2017 (second column from right). It shows that the Merced, CA metro had the highest HPA — 82.13% di=uring this period.

Use the interactive table and examine areas of interest.

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.

 

 

Housing Price Index by 5-Digit ZIP Code

.. tools to examine housing prices by 5-digit ZIP code and how they are changing .. of the 17,931 5-digit ZIP codes tabulated, 8,074 experienced a decrease in housing value during the period 2010 to 2015. At the same time, 8,672 ZIP code areas experienced an increase in housing value. Housing prices increased for most ZIP codes from 2014 to 2014.  Find out more about housing prices and trends for ZIP codes of interest using tools described here. These data are based on experimental estimates of the Housing Price Index (HPI) by 5-digit ZIP code based in part on home sales price data from Fannie Mae- and Freddie Mac-acquired mortgages. See more about these data.

• Use the interactive table to view, rank, compare the HPI for all 5-digit ZIP code areas tabulated.
• Use GIS tools described here to develop thematic pattern maps; add your own data & geography, select different HPI measures or criteria; zoom to different geographic extents, label and modify colors as desired.

Gaining Insights in Housing Prices, Conditions & Markets
  .. Characteristics, Patterns & Trends
  .. join in .. one hour web session — overview & connectivity details

Patterns of Housing Value Change by ZIP Code: 2010-15
The following graphic shows patterns of housing value appreciation by ZIP Code: 2010-15 for the Houston metro (bold brown boundary). The color patterns/intervals are shown in the inset legend. Data are not available, using the criteria applied (2000 base year), for areas not colored In the larger view (click graphic), ZIP codes are labeled with HPI percent change from 2010 to 2015. Click graphic for larger view. Expand browser to full window for best quality view. Use the GIS tools described here to develop thematic pattern maps for a range of data and criteria.

.. view developed using the CV XE GIS software.
.. click map for larger view and details.

Additional views:
Atlanta area
New York City area
Washington, DC area
Los Angeles area

Examining Recent Trends; Current Estimates & Projections
The interactive table presents annual HPI data 2010 through 2015. A much larger set of these ZIP codes show a negative change between 2010 and 2015 compared to the one year change 2014-2015; The data generally show more ZIP codes experiencing housing value appreciation 2014-2015 compared to the longer period 2010 to 2015. These trends underscore the importance of having more recent data for use in analysis, planning and decision-making. The next update based on transaction data will be May 2017 or later.

ProximityOne uses the HPI transaction data with other data to develop HPI current estimates (2016) and annual projections to 2021 with quarterly updates as a part of the Regional Demographic-Economic Modeling System (RDEMS). Experimental county-up (metro, state, U.S.) and sub-county estimates and projections are planned for the fall 2016 quarterly update. The model based estimates and projections include the number of units by type and value that are added to the housing stock used to compute a variation of the HPI.

Housing Price Index by 5-Digit ZIP Code: 2010-2015
  — Interactive Table
Use the interactive table to examine the Housing Price Index (HPI) by 5-digit ZIP code. The following graphic illustrates use of the table to show the 10 ZIP codes experiencing the largest percentage increase in the HPI from 2014 to 2015. Click graphic for larger view. Examine cities or ZIP code ranges of interest using tools below the table.

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.

Developing & Using Map Graphics

.. steps to develop map graphics & visual analysis of market/study areas .. map graphics are an important part of most demographic-economic analyses and essential for many applications. Not only are are maps needed to show geographic boundaries and the relative location of geography within a broader area, they can come alive by showing patterns. A thematic pattern map of median household income by block group is a good example; higher and lower areas of economic prosperity by neighborhood can be immediately determined. Map graphics can improve our ability to communicate complex information. Convey information faster. Make more compelling presentations. Collaborate more effectively through the use of map graphics.  See related Web section for more details.

The focus of this section is on creating and using KML files to prepare map graphics for use in developing Market-Study Area Comparative Analysis Reports. These files and map graphics also have broader uses. Steps are reviewed to develop the KML circular area map graphics files, convert them to shapefile structure and integrate both files into mapping and GIS applications and put them into operational use. 

KML (Keyhole Markup Language) files are XML structured files useful for visualizing geographic objects (like circles) using Internet-based browsers, notably Google Earth. Why develop/use KML files? They are easy to create with precision, there is little to no learning curve, they can be used in many venues and they are free to develop. KML files can be used side-by-side with shapefiles. Shapefiles, structured very much unlike KML files, are the dominant vector-based file structure used in GIS applications involved in both viewing and geospatial analysis. 

Developing Circular KML Files & Map Graphics
An “objective view” of this section is shown in the following graphic. The graphic shows a study site location (red marker), 1-mile & 3-mile radius circles. The site location is a Starbucks located at 302 Nichols Road, Kansas City, MO 64112. The view shows a circular KML-based graphics in context of patterns of median household income by block group. Develop similar views for any area, any site circular configuration, using steps reviewed in this section.

– view developed using CV XE GIS

Creating the KML Circular Graphics File
Proceed through the next steps to develop a KML file used to create the graphic below on left — a Starbucks located at 302 Nichols Road, Kansas City, MO 64112. Graphic on the right is a Starbucks location in Paris, used to illustrate this process works globally. Both graphics include study area center point and 1-mile and 3-mile radius circles.

302 Nichols Road, Kansas City, MO 64112
23 Avenue de Wagram, 75001 Paris, France

Start the create KML file application
• Key in address 302 Nichols Road, Kansas City, MO 64112 to Google Maps
.. see the latitude-longitude (39.041548,-94.592965) in the URL bar.
• Open this web page to create the circles & save results as KML file.
• Refresh this page if making a new KML file.
• Set the colors and lines to medium, blank and clear.
• Enter coordinates — key in lat 39.041548 and lon -94.592965
.. these for for this example
.. enter the values for your location of interest
Add center point
• In the Radius Distance, key in 0.05 miles
• Click Draw Radius blue button (at right of longitude).
Add site 1 circle
• In the Radius Distance, key in 1.00 miles (use preferred radius for inner circle).
• Click Draw Radius blue button (at right of longitude).
Add site 2 circle
• In the Radius Distance, key in 3.00 miles (use preferred radius for inner circle).
• Click Draw Radius blue button (at right of longitude).
View study area geography
• Optionally navigate up to the map view and make the view similar to the graphic at the top of this page 
.. this step is not required but might be useful to verify the study area appearance.
Save KML file
• Navigate down the page to “Google Earth KML Output”. Click the blue button Generate KML.
• Click “Download KML file Here.” Save the file to a folder and make a note of the file path and name
.. save the file as c:\sitereport\302nichols.kml (this file and filename are used below).
Done
• The three part KML file has been created and saved to the local computer. 
• Finished using this browser application.

This same process may be used again to create similarly structured KML files of any radius about any point for any location in the world. 

Loading a KML file into Google Maps
Optionally create the objective map graphic using the following steps. Or, the KML file may be used with the CV XE GIS software (see below) enabling yet further analytical possibilities. 

 Click this link to start the Google MyMaps application.
• When the new page opens click create new map button
• Next click import button
• Enter the file path/name as created above (c:\sitereport\302nichols.kml), or any KML file.
• Edit the MyMaps rendering to achieve preferred view.
• Use preferred screen capture tool to save that part of the map view as a graphic for the study report.

Using the KML File with an Existing GIS Project and converting the KML file to shapefile structure

1. Add the KML file to an Existing CV XE GIS Project
• Start the CV XE GIS software and open the project file c:\cvxe\1\cvxe_us2.gis (distributed with installer).
.. uncheck Locations and $MHI x BG layers in legend panel.
• Click the AddLayer button (second button from left on toolbar)
• Select the KML file that was created above (c:\sitereport\302nichols.kml) .. circles appear in the map window.
• Use LayerEditor to adjust settings for KML layer (transparent, bold outline)
• Navigate to zoom-in view and smaller map window.
• Use Toolbar button Save to Image (button 7 from left) to save the map window view to a .jpg file.

Navigate to this view:

2. Converting a KML File to a Shapefile
This step requires the CV XE GIS Basic or higher level version. After the KML layer appears in the above sequence, proceed as follows:

• Click File>ExportShapefile.
• Select the KML layer name.
• Set Coordinate System edit box value to NAD83.
• Click OK button.
• On the Export Layer/FileSave dialog, select an output file path and name.
• The shapefile is generated and may be reused with any GIS project.

3. Editing attributes of the study area shapefile and project file
There are three shapes in the shapefile (center point, circle 1, circle 2). 
Modify the appearance of these shapes/objects by using the Select tool (mouse in Select mode).
• In legend panel click on circles layer; name turns blue indicating this is the active layer.
• In the map window, click in the circle; the profile/editor appears (pop-up)
• Initially all three shapes have the name “Polygon”.
.. change the object names successively to Point1 (the small circle), Circle1 and Circle2.
• The shapefile attributes have been permanently changed.
• When each shape/object has been renamed, use the LayerEditor to modify the appearance of each shape.
.. the changes modify the project file and not the shapefile.
.. optional save the project (overwriting the former version) or save the project with a new name.

Renaming a shape to “Point1”
Click for larger view

Using LayerEditor to set attributes of the study area layer
Click for larger view

View of final study area layer in context of broader project
Click for larger view

View as above with $MHI x BG checked on/visible
Click for larger view
 

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.