Settling on a New Normal for Appraisals in 2022
Appraisal Buzz
DECEMBER 27, 2021
The housing market was hotter than ever last year, with pandemic-driven demand boosting home sales to their highest level in 14 years. Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value. The appraisal industry faced a shortage of appraisers during the hot housing market.
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