Home Values See Largest Monthly Climb in Five Years – NMP
Industry News

Home Values See Largest Monthly Climb in Five Years

Oct 09, 2019
Photo credit: Getty Images/AndreyPopov

Home values were up nationally by 2.15 percent from August to September, according to new data from Quicken Loans. This marked the largest monthly increase in nearly five years. Values were up by 6.52 percent from September 2018.
On a regional measurement, the West saw the largest monthly jump in home values at 2.93 percent while the Midwest achieved the largest annual improvement with a 6.34 percent increase in average appraised value.
 
“Despite the start of the school year, and the introduction of cooler temperatures in parts of the country, home shoppers are still active,” said Bill Banfield, executive vice president of capital markets for Quicken Loans. “Buyer interest, combined with persistently low home inventory, continues to drag up home values. With August’s jump in homebuilding, at its highest level in 12 years there could be some hope on horizon for home shoppers who haven’t been able to find a home that is a perfect fit at the right price.”
 
Quicken Loans also reported the average home appraisal in September was a mere 0.49 percent lower than what homeowners expected in September, down from 0.64 percent in August. The Detroit-based company’s National Home Price Perception Index determined the average appraisal was higher than expected in 55 percent of the metro areas tracked for the data report, while all of the metros with average appraisals lower than the homeowners’ estimate had a less than a two percent gap between the expectation and the actual appraised value.
 
“Underestimating your home value could, understandably, feel like a windfall,” added Banfield. “But if a homeowner overestimates their home value, the mortgage could need to be reworked when refinancing–possibly even requiring the owner to bring more cash to the closing table.”
Home values were up nationally by 2.15 percent from August to September, according to new data from Quicken Loans
 
About the author
Phil Hall
Link copied
Published
Oct 09, 2019
Get the NMP Daily
Non-QM
ResiCentral Expands Non-QM Lending With 90% LTV, 55% DTI Options

New Advantage program offers more flexibility for borrowers with past credit events, self-employed buyers using bank statements, and real estate investors

ResiCentral is expanding its Non-QM lending options with a new program offering up to 90% loan-to-value (LTV) financing, debt-to-income (DTI) ratios as high as 55%, and more accommodating guidelines for borrowers with past credit events.The wholesale and non-delegated corres...

Continue reading
Analysis and Data
Redfin: Homebuyers Gain Leverage, But Pending Sales Keep Sliding

Pending sales fall 16.4% from a year ago despite lower home prices and mortgage payments, as sellers retreat from a weakening market

Home prices are falling. Mortgage payments are easing. Sellers are becoming more willing to negotiate. Yet the housing market keeps losing buyers.Pending home sales fell 16.4% year over year during the four weeks ending Nov. 1, reaching their lowest level in Redfin's weekly ...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Industry News
Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Industry News
Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Industry News
Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Industry News
Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Industry News
Oct 09, 2026
Newrez, eXp Realty Form Joint Venture To Target Purchase Business

Revenos Mortgage is set to launch in early 2027, replacing eXp's joint venture with Kind Lending

Industry News
Oct 08, 2026