Daily Real Estate News | Wednesday, September 09, 2015
Home owner estimates now stand 2.65 percent higher than appraiser opinions, the largest gap in more than a year, according to the index.
“The perception trend of most of this year suggests home owners may be assuming that home values have been in a steady, linear path upward,” says Bob Walters, Quicken Loans chief economist. “In reality, home values have remained mostly flat this year, and this false assumption may be leaving home owners disappointed when their appraisals come in.”
The chart below gauge home owners’ versus appraisers’ value perceptions by metro.
“Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission”