Almost 50 percent of appraisers reported that their confidence in the housing market was mildly or moderately strong during the second quarter, according to survey results released July 23 by Overland Park, Kan.-based appraisal management company United States Appraisals.
The level of confidence is slightly lower than what was reported for the first quarter when 54.5 percent of appraisers expressed a mildly or moderately strong outlook. Neutral replies rose to 29.7 percent from 24.8 percent.
“Appraisers tend to focus on the local markets in which they work and are not typically concerned with national numbers or reporting,” Aaron Fowler, president of United States Appraisals said in a news release accompanying the survey. “By polling our nationwide panel of local appraisers, we believe that in the aggregate we receive a solid interpretation of the national marketplace. Overall, it is good to see continued optimism in our appraiser community.”
Appraisers felt more positive toward home values, with 70.7 percent of respondents reporting higher local property values, compared to 65.4 percent reporting higher values during the first quarter. Only 6.6 percent of respondents reported lower local values for the second quarter.
One-third of survey respondents reported a decline in order volume during the second quarter.
An Appraisal Institute report released July 17 noted that appraisers were very optimistic, with 95 percent of residential appraisers confident in the market.
Likewise, the National Association of Home Builders’ most recent survey shows its members’ confidence is the highest since 2006.
See more results from the United States Appraisals’ survey.