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Economists' Outlook

Housing stats and analysis from NAR's research experts.

2016 Survey of Mortgage Originators, Fourth Quarter

February 7, 2017
Appraisal & Valuation
By: Ken Fears

Anecdotes have increased in recent quarters that there is a growing shortage of appraisers.  55.6 percent of lenders who took part in the most recent Survey of Mortgage Originators indicated some level of issues getting appraisals.  However, 11.1 percent indicated that the issue was significant.

appraisals
Respondents indicated that roughly 9.8% of volume was hit with a rush fee for getting an appraisal within a short time-frame.  On average, those fees were 37.1 percent higher in this sample.

NAR will work with appraiser-members to continue to monitor constraints in the appraisal industry

 

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