Atlanta Homeowners continue to value homes higher than appraisers
Atlanta Homeowners estimates in March 2015 remained higher than appraiser opinions of values.
Detroit-based Quicken Loans Inc.’s Home Price Perception Index (HPPI) for the Atlanta metro was -0.49 percent in March — an increase of 0.03 percent from February.
A negative value represents appraiser opinions that are lower than homeowner perceptions.
The HPPI for March 2014 in Atlanta was -1.45 percent.
Nationally, appraiser opinions were lower than homeowner estimates by 0.40 percent in March, compared to February (0.13 percent lower). This slight change in the national HPPI was consistent with most metro areas, nearly all of which saw little perception change from the month prior.
Seventeen of the 27 metro areas analyzed are still seeing appraiser opinions higher than homeowner estimates.
Home values also declined in March. The Home Value Index (HVI) for the nation’s southern region showed home values dipped 0.3 percent. The national HVI showed home values were down 0.56 percent.
“Despite negative housing trends garnering attention, home values nationally are still displaying healthy gains over the long term,” Quicken Loans Chief Economist Bob Walters said in a statement. “The market is in a lull right now, and all eyes are focused on homeowners as they decide whether to list their home. The upcoming peak real estate season could set the course for the market and push home values positively or negatively in a big way.”
Phil W. Hudson is a finance, music and sports reporter.
Click Here to Subscribe