Homeowners and appraisers are getting farther apart on their perceptions of housing values, according to Quicken Loans.
Appraiser opinions of home values were 2.33% lower than homeowners' estimates, according to Quicken's
The study found that homeowners are increasingly overvaluing their homes, Quicken said.
"Many homeowners around the country are seeing the national headlines about home value increases and they are optimistic about their equity increasing," Bob Walters, Quicken's chief economist, said in a news release.
"While some areas are seeing the same level of home appreciation, or even more, there are also some areas that have slower home value increases," he said.
The widest gap between appraisers and homeowners in July was in Philadelphia, where appraisers' value was 3.03% lower than homeowners' perceptions. Kansas City, Mo., had the second-widest gap at 2.69%.
The reverse was true in San Jose, Calif., where homeowners' estimates were 5.96% lower than appraisers' values. San Francisco was second at 5.35%.
