Skip to main content

Gap Between Appraisal Values and Homeowners' Perception Expands

Phil Hall
Mar 12, 2019
The gap between homeowner estimates on property value and appraiser opinions on the subject widened for the fourth straight month in February, according to new data from Quicken Loans

The gap between homeowner estimates on property value and appraiser opinions on the subject widened for the fourth straight month in February, according to new data from Quicken Loans.
 
The National Quicken Loans Home Price Perception Index Appraisal determined that home values in February were an average of 0.5 percent lower than what homeowners expected. Nonetheless, home values barely moved during the winter months: The National Quicken Loans Home Value Index reported the average appraisal increased by a tiny 0.05 percent from January to February. However, annual growth rose by a robust 5.47 percent.
 
"Home values are still making modest annual gains, despite being practically stagnant when measured monthly. What everyone has their eye on is what will happen as the spring selling season kicks off," said Bill Banfield, Quicken Loans Executive Vice President of Capital Markets. "Home prices, and in turn home values, are mostly driven by the balance of how many homes are on the market and the volume of buyers vying for them. Most of the industry is expecting the demand will remain high, like in years past, but what remains to be seen is how many owners will choose to list their home–creating availability for both first time and move up buyers."
The gap between homeowner estimates on property value and appraiser opinions on the subject widened for the fourth straight month in February, according to new data from Quicken Loans

 
Published
Mar 12, 2019
Federal Regulators Race To Address Cryptocurrency Risks

Cryptocurrency is quickly morphing into a volatile but widely embraced innovation, and federal regulators are racing to address the potential risks to consumers and the market. 

Industry News
Sep 24, 2021
MBA Initiative Seeks To Close Racial Homeownership Gap

Says its advocacy, partnerships & connections will help increase opportunities for minority borrowers

Industry News
Sep 24, 2021
Guaranteed Rate Opens New Branch In Southwestern Michigan

Guaranteed Rate expanded its presence in Southwester Michigan, after opening a new branch in St. Joseph

Industry News
Sep 22, 2021
Chinese Property Giant Evergrande Falters, Threatening U.S. Investors

On Monday, investors across three continents dumped their stocks, mainly out of fear that the world’s two largest governments — the United States and China — would undercut the beginnings of a global economic recovery. 

Industry News
Sep 22, 2021
Compass Mortgage Expands In Four Additional States

Compass Mortgage is now licensed in Virginia, Washington, North Carolina and South Carolina.

Industry News
Sep 22, 2021
Enact Holdings Completes IPO

Genworth Financial Inc. announced the completion of the initial public offering for its subsidiary Enact Holdings Inc.

Industry News
Sep 21, 2021