The gap between what consumers think a home is worth and its appraised value narrowed in September because of rising prices due to the continued inventory shortage, Quicken Loans said.

On average, a homeowner thought his or her home was worth 1.14% above its appraised value, compared with a 1.35% gap for August and a 1.26% gap in September 2016, according to Quicken's Home Price Perception Index.

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