Home Prices Rising but what are Appraisers think?

Vero Beach home prices are on the rise as in most areas in the country, but price increases have retreated the last few months. Every month, Quicken Loans releases their national Home Price Perception Index (HPPI). September’s report showed that there is a difference between an appraiser’s home value opinion and what the homeowner thinks his home is worth. The chart above is showing the increasing difference in opinions.

As the real estate market is heating up and home values increase, the increases slow down overtime as we are seeing here in Vero Beach real estate market. Although the national headlines trump home price increases the last six months, most experts expect residential real estate values to start following the historic norm of more modest price appreciation over the next five years.

The slowing of increases in local home values increases creates a misunderstanding between the home owners who think values are still skyrocketing and the appraisers who are viewing the housing industry every day with data from local, regional and national markets.

When pricing your home for sale, you should have a real estate professional help and educate on the local market, where prices are and where they are headed in the future.

If you are considering selling your home and you want to know how much is work in today’s market, call me at 772-532-0945 or complete the form below to request a my home selling guide and a non-obligation market evaluation of your home today.