Minimal Distance Between Homeowner and Appraiser Perceptions on Valuation
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Minimal Distance Between Homeowner and Appraiser Perceptions on Valuation

January 8, 2019
Tappable equity, which is the amount available for homeowners with mortgages to borrow against before hitting a maximum 80 percent combined loan-to-value ratio
Less than half a percent separated owner and appraiser perceptions of home values last month, according to new data from Quicken Loans.
 
Appraisal values were an average of 0.45 percent lower than homeowners expected in December, according to the National Quicken Loans Home Price Perception Index, compared to a 0.36 difference in November. The National Quicken Loans Home Value Index (HVI) reported a 0.79 percent monthly increase in the average appraisal value during December, while the index the average appraisal jumped 5.15 percent year-over-year.
 
“Any consumer who has read recent news about the housing market and has the impression that it is slowing to a halt should see that the HVI proves that this could not be farther from the truth,” said Bill Banfield, Quicken Loans Executive Vice President of Capital Markets. Banfield. “Home value growth is now at a more normal, sustainable clip— keeping pace with inflation and wage growth more than we have seen in the past few years.”
 
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