Confidence is edging down among appraisers, but the industry remains largely optimistic.
Roughly half of appraisers surveyed in the second quarter felt either “mildly or moderately strong” about the housing market, down from 54.5% during the first quarter.
At the same time, opinions were slightly higher regarding home values with 70.7% of appraisers responding reporting an increase in values in their area vs. 65.4% at the end of the first quarter. Only 6.6% of respondents reported value depreciation in their areas.
The survey reflect overall continued optimism in the appraiser community, Aaron Fowler, president of United States Appraisals said in a press release. Only 14.5% reported mildly or moderately weak housing market during the quarter.