By Rob Chrisman
Posted To: Pipeline Press
Quicken Loans recently released its monthly Home Price Perception Index (HPPI) and Home Value Index (HVI). According to the HPPI, appraiser’s home value estimates are only 1.43% more than homeowner’s opinions per the national composite, indicating that the home value estimate gap between appraisers and homeowners is tightening. (I don’t know if that means both are wrong, both were wrong, or one or the other was or is wrong. Maybe there is no wrong or right.) December was also the sixth consecutive month where home value opinions narrowed . Appraisers in more than 77% of the cities surveyed by Quicken Loans maintain higher opinions of home values than homeowners. Baltimore, Maryland and Chigo, Illinois were the two cities where home value estimates between appraisers and homeowners were more…(read more)
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