Real estate appraisers optimistic about future

07/19/2013

Real estate appraisers optimistic about future

Real estate appraisers optimistic about future

CHICAGO – July 17, 2013 – Eighty percent of residential appraisers and 78 percent of commercial appraisers said they’re upbeat about their future, according to a survey conducted in May-June by the Appraisal Institute, the nation’s largest professional association of real estate appraisers.

“Appraisers have faced a challenging real estate market in recent years, and it’s great to see that so many valuation professionals are feeling optimistic about the future,” says Appraisal Institute President Richard L. Borges II.

Survey results

• 95 percent of residential appraisers and 49 percent of commercial appraisers said there is more demand for their services than there was one year ago

• 84 percent of residential appraisers said their local residential real estate market is strong

• 46 percent of commercial appraisers said their local commercial market is strong

• 86 percent of residential appraisers and 55 percent of commercial appraisers said demand for their services is strong

• 32 percent of residential appraisers and 45 percent of commercial appraisers anticipate more demand for their services during the next one to two years.

“Real estate trends are typically local in nature, and it’s a positive sign for the nation’s economy that appraisers around the country reported increased demand for their services,” Borges says.

© 2013 Florida Realtors®

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