Slightly less than half of the appraisers surveyed said their current level of confidence in the housing market was mildly or moderately strong at the end of 2Q13, compared with only 14.5% answered mildly or moderately weak. The survey was conducted by appraisal management company United States Appraisals.
The 49.6% who expressed a strong level of confidence is slightly lower than a similar 1Q13 when 54.5% indicated a mildly or moderately strong outlook. Neutral replies increased to 29.7% from 24.8%.
"Appraisers tend to focus on the local markets in which they work and are not typically concerned with national numbers or reporting," explained Aaron Fowler, president of United States Appraisals. "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."
The National Association of Home Builders’ most recent survey places its members’
Appraisers’ opinions were slightly higher regarding home values with 70.7% of respondents reporting an increase in values in their area in 2Q13. This is compared with 65.4% at the end of the first quarter. Only 6.6% of respondents reported value depreciation in their areas for the second quarter.
The survey also found that one-third of the respondents said their new order volume had declined during 2Q13.
Some of the comments made by those surveyed showed concerns, particularly for low inventory and low rates:
- "Looks due for a hit if interest rates rise."
- "Low inventory. Homes priced correctly are moving."
- "Maybe increasing a little too fast due to low inventories."
- "Overall, indicators are positive. I worry about the remaining stock of foreclosures and short sales."
- "The market is trending upward with outside influence from the U.S. government and foreign influence."
- "Worried about artificial interest rates. They will have to go up."
