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Homeowners Expecting Higher Appraisals than They Get

Monday, April 15, 2019

Homeowners are and should be proud of their homes, but that often leads them to think it has a higher value than does an appraiser and the difference between the two opinions increased significantly in March.  Quicken Loans says the gap in its Home Price Perception Index grew by 25 percent compared to February. Part of the difference might be accounted for by a decline in home prices of 0.20 percent during the month although prices rose 3.37 percent over the previous 12 months. Nationwide, appraised values came in at 0.78 percent of what homeowners expected compared to 0.50 percent in February.

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