Housing Rises Despite Decreasing Builder Confidence

Appraisers and homeowners were 0.03% further apart on home values in July with homeowners overvaluing their homes by 0.28%. That said, in nearly 80% of the metro areas measured, appraised values came in higher than homeowner expectations. In terms of regional comparisons, homeowners in the West inflated their home value by just 0.14%. This was followed by the South and Northeast at 0.3% and 0.33%, respectively. The Midwest is just behind with estimates 0.35% above those of appraisers.

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Source: Zing! By Quicken Loans