Builder
Quicken survey shows second month of decline after six months of narrowing.
For the second consecutive month, the gap between homeowner estimates and appraiser opinions has widened. Quicken Loans’ National Home Price Perception Index (HPPI) showed the average appraisal value was 1.47% below what owners expected in January. This two-month drop in the HPPI comes on the heels of a six month stretch where opinions between homeowner and appraiser were steadily moving closer to equilibrium.
Appraisal values in January stayed mostly flat, slipping only 0.34% last month according to Quicken Loans’ Home Value Index (HVI). When viewed annually, appraised values continue to rise, increasing 3.93% year-over-year.
