Appraisers and homeowners were a little further apart from each other for the first time in eight months as the average appraisal came in 0.60% below homeowner estimates. The good news is that home values were up 0.46% in January and have risen 7.03% on the year. The gap between homeowner perceptions of home value and actual appraisal values was 0.60% in January, as compared to 0.50% in December. However, there’s a marked improvement compared to the same time a year ago when appraiser opinions were 1.47% below homeowner estimates.
Source: Quicken Loans