Appraisal Institute

Homebuilders Get Caught In The Appraisal Gap Vortex 

Source: CoreLogic  Beginning in January 2020, nationally, 7% of purchase transactions had a contract price above the appraisal, but by May 2021, the frequency had increased to 19% of purchase transactions. As expected, the frequency of a contract price being below the appraised value decreased from 69% in January 2020 to 52% one year later. […]