Appraisals Continue to Fall Below Homeowner Value Perceptions

The trend of owners overestimating their home’s value when refinancing continued in August

By Jeff Sorg, OnlineEd Blog

(September 20, 2016) –  According to a recent report by Quicken Loans, appraisals across the country were an average of 1.56 percent lower than what refinancing homeowners expected in August, based on the company’s national Home Price Perception Index (HPPI).

The Quicken Loans Home Value Index (HVI), which measures home value changes exclusively through appraisals, moved higher yet in August. Home values increased 1.73 percent over the previous month while jumping 8.13 percent higher than August 2015, according to the national HVI.

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