Homeowners Are Overestimating Their Home Values

May 10, 2017

Homeowners are favorable to their properties, but appraisers are a little more level-headed.

HousingWire reports that appraised home values last month were 1.9 percent lower than what owners expected. The gap between homeowner and appraiser estimates has grown larger in each of the last five months.

Although the gap continued to widen, appraised valued increased in April. The National Home Value Index, which measures home prices based solely on appraised values, shows home prices increased 1.06% in from March and 5.08% from April 2016.

Home price growth is also improving. The HVI increased 5.08 percent on an annual basis in April, up from 3.3 percent in March.

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PB-Economics,PB-Financial,PB-Single Family Homes