\n| \n Geographic Regions<\/b><\/span><\/p>\n<\/td>\n | \n HVI<\/b><\/span><\/p>\nMay 2019<\/span><\/p>\nJanuary 2005 = 100<\/span><\/p>\n<\/td>\n | \n HVI<\/b><\/span><\/p>\nMay 2019<\/span><\/p>\nvs.<\/span><\/p>\nApril 2019<\/span><\/p>\n% Change<\/span><\/p>\n<\/td>\n | \n HVI<\/b><\/span><\/p>\nMay 2019<\/span><\/p>\nvs.<\/span><\/p>\nMay 2018<\/span><\/p>\n% Change<\/span><\/p>\n<\/td>\n | \n HPPI<\/b><\/span><\/p>\nMay 2019<\/span><\/p>\nAppraiser Value vs. Homeowner Perception of Value*<\/span><\/p>\n<\/td>\n | \n HPPI<\/b><\/span><\/p>\nMay 2018<\/span><\/p>\nAppraiser Value vs. Homeowner Perception of Value*<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n West<\/span><\/p>\n<\/td>\n | \n 136.32<\/span><\/p>\n<\/td>\n | \n -1.74%<\/span><\/p>\n<\/td>\n | \n 3.52%<\/span><\/p>\n<\/td>\n | \n -0.74%<\/span><\/p>\n<\/td>\n | \n -0.13%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n South<\/span><\/p>\n<\/td>\n | \n 114.66<\/span><\/p>\n<\/td>\n | \n -0.72%<\/span><\/p>\n<\/td>\n | \n 3.28%<\/span><\/p>\n<\/td>\n | \n -0.76%<\/span><\/p>\n<\/td>\n | \n -0.37%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Midwest<\/span><\/p>\n<\/td>\n | \n 94.17<\/span><\/p>\n<\/td>\n | \n 0.47%<\/span><\/p>\n<\/td>\n | \n 4.68%<\/span><\/p>\n<\/td>\n | \n -0.80%<\/span><\/p>\n<\/td>\n | \n -0.41%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Northeast<\/span><\/p>\n<\/td>\n | \n 103.81<\/span><\/p>\n<\/td>\n | \n -0.38%<\/span><\/p>\n<\/td>\n | \n 0.07%<\/span><\/p>\n<\/td>\n | \n -0.89%<\/span><\/p>\n<\/td>\n | \n -0.49%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/p><\/div>\n<\/div>\n*A positive value represents appraiser opinions that are higher than homeowner perceptions. A negative value represents appraiser opinions that are lower than homeowner perceptions.<\/i><\/strong><\/p>\n\n \n \n \n\n\n| \n Metropolitan <\/b><\/span><\/p>\nAreas<\/b><\/span><\/p>\n<\/td>\n | \n HPPI<\/b><\/span><\/p>\nMay 2019<\/span><\/p>\nAppraiser Value vs. Homeowner Perception of Value*<\/span><\/p>\n<\/td>\n | \n HPPI<\/b><\/span><\/p>\nApril 2019<\/span><\/p>\nAppraiser Value vs. Homeowner Perception of Value*<\/span><\/p>\n<\/td>\n | \n HPPI<\/b><\/span><\/p>\nMay 2018<\/span><\/p>\nAppraiser Value vs. Homeowner Perception of Value*<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Charlotte, NC<\/span><\/p>\n<\/td>\n | \n +1.99%<\/span><\/p>\n<\/td>\n | \n +1.93%<\/span><\/p>\n<\/td>\n | \n +1.35%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Boston, MA<\/span><\/p>\n<\/td>\n | \n +1.72%<\/span><\/p>\n<\/td>\n | \n +2.08%<\/span><\/p>\n<\/td>\n | \n +2.41%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Minneapolis, MN<\/span><\/p>\n<\/td>\n | \n +1.19%<\/span><\/p>\n<\/td>\n | \n +1.16%<\/span><\/p>\n<\/td>\n | \n +1.91%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Denver, CO<\/span><\/p>\n<\/td>\n | \n +0.98%<\/span><\/p>\n<\/td>\n | \n +1.25%<\/span><\/p>\n<\/td>\n | \n +2.35%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Las Vegas, NV<\/span><\/p>\n<\/td>\n | \n +0.87%<\/span><\/p>\n<\/td>\n | \n +0.88%<\/span><\/p>\n<\/td>\n | \n +0.92%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n San Jose, CA<\/span><\/p>\n<\/td>\n | \n +0.78%<\/span><\/p>\n<\/td>\n | \n +0.95%<\/span><\/p>\n<\/td>\n | \n +2.82%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Seattle, WA<\/span><\/p>\n<\/td>\n | \n +0.62%<\/span><\/p>\n<\/td>\n | \n +0.95%<\/span><\/p>\n<\/td>\n | \n +1.88%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Atlanta, GA<\/span><\/p>\n<\/td>\n | \n +0.48%<\/span><\/p>\n<\/td>\n | \n +0.65%<\/span><\/p>\n<\/td>\n | \n +0.10%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Dallas, TX<\/span><\/p>\n<\/td>\n | \n +0.43%<\/span><\/p>\n<\/td>\n | \n +0.68%<\/span><\/p>\n<\/td>\n | \n +2.35%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n San Francisco, CA<\/span><\/p>\n<\/td>\n | \n +0.34%<\/span><\/p>\n<\/td>\n | \n +0.53%<\/span><\/p>\n<\/td>\n | \n +2.25%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Phoenix, AZ<\/span><\/p>\n<\/td>\n | \n +0.01%<\/span><\/p>\n<\/td>\n | \n +0.21%<\/span><\/p>\n<\/td>\n | \n +0.32%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Washington, D.C.<\/span><\/p>\n<\/td>\n | \n -0.01%<\/span><\/p>\n<\/td>\n | \n +0.05%<\/span><\/p>\n<\/td>\n | \n +0.59%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Portland, OR<\/span><\/p>\n<\/td>\n | \n -0.02%<\/span><\/p>\n<\/td>\n | \n +0.21%<\/span><\/p>\n<\/td>\n | \n +0.95%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n San Diego, CA<\/span><\/p>\n<\/td>\n | \n -0.02%<\/span><\/p>\n<\/td>\n | \n +0.18%<\/span><\/p>\n<\/td>\n | \n +1.35%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Sacramento, CA<\/span><\/p>\n<\/td>\n | \n -0.05%<\/span><\/p>\n<\/td>\n | \n +0.11%<\/span><\/p>\n<\/td>\n | \n +0.95%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Los Angeles, CA<\/span><\/p>\n<\/td>\n | \n -0.29%<\/span><\/p>\n<\/td>\n | \n -0.18%<\/span><\/p>\n<\/td>\n | \n +0.78%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Houston, TX<\/span><\/p>\n<\/td>\n | \n -0.34%<\/span><\/p>\n<\/td>\n | \n -0.24%<\/span><\/p>\n<\/td>\n | \n -1.08%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n New York, NY<\/span><\/p>\n<\/td>\n | \n -0.38%<\/span><\/p>\n<\/td>\n | \n -0.37%<\/span><\/p>\n<\/td>\n | \n +0.77%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Kansas City, MO<\/span><\/p>\n<\/td>\n | \n -0.47%<\/span><\/p>\n<\/td>\n | \n -0.22%<\/span><\/p>\n<\/td>\n | \n +1.20%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Riverside, CA<\/span><\/p>\n<\/td>\n | \n -0.55%<\/span><\/p>\n<\/td>\n | \n -0.48%<\/span><\/p>\n<\/td>\n | \n +0.93%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Tampa, FL<\/span><\/p>\n<\/td>\n | \n -0.57%<\/span><\/p>\n<\/td>\n | \n -0.74%<\/span><\/p>\n<\/td>\n | \n -0.06%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Baltimore, MD<\/span><\/p>\n<\/td>\n | \n -0.86%<\/span><\/p>\n<\/td>\n | \n -0.89%<\/span><\/p>\n<\/td>\n | \n -1.33%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Detroit, MI<\/span><\/p>\n<\/td>\n | \n -0.97%<\/span><\/p>\n<\/td>\n | \n -0.82%<\/span><\/p>\n<\/td>\n | \n +0.82%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Miami, FL<\/span><\/p>\n<\/td>\n | \n -1.03%<\/span><\/p>\n<\/td>\n | \n -0.96%<\/span><\/p>\n<\/td>\n | \n +0.44%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Chicago, IL<\/span><\/p>\n<\/td>\n | \n -1.51%<\/span><\/p>\n<\/td>\n | \n -1.79%<\/span><\/p>\n<\/td>\n | \n -1.69%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Cleveland, OH<\/span><\/p>\n<\/td>\n | \n -1.70%<\/span><\/p>\n<\/td>\n | \n -1.95%<\/span><\/p>\n<\/td>\n | \n -1.49%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Philadelphia, PA<\/span><\/p>\n<\/td>\n | \n -1.74%<\/span><\/p>\n<\/td>\n | \n -1.44%<\/span><\/p>\n<\/td>\n | \n -1.28%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/p><\/div>\n<\/div>\n*A positive value represents appraiser opinions that are higher than homeowner perceptions. A negative value represents appraiser opinions that are lower than homeowner perceptions.<\/i><\/strong><\/p>\nAbout the HPPI & HVI<\/u><\/h4>\nThe Quicken Loans HPPI represents the difference between appraisers’ and homeowners’ opinions of home values. The index compares the estimate that the homeowner supplies on a refinance mortgage application to the appraisal that is performed later in the mortgage process. This is an unprecedented report that gives a never-before-seen analysis of how homeowners are viewing the housing market. The HPPI national composite is determined by analyzing appraisal and homeowner estimates throughout the entire country, including data points from both inside and outside the metro areas specifically called out in the above report.<\/p>\n The Quicken Loans HVI is based solely on appraisal data from home purchases and mortgage refinances. This produces a wide data set and is focused on appraisals.<\/p>\n","protected":false},"excerpt":{"rendered":" Gap Narrows Between Homeowners’ Perceptions and Appraised Value The average home appraisal in May was 0.79% lower than what the owner estimated, according to the Quicken Loans Home Price Perceptions Index. While a lower-than-expected appraisal is never welcome news, this difference between homeowner estimates and appraisal values is slightly smaller in April, and the first […]<\/p>\n","protected":false},"author":15802,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[],"class_list":["post-776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"\n Gap Narrows Between Homeowners' Perceptions and Appraised Value<\/title>\n<meta name=\"description\" content=\"While a lower-than-expected appraisal is never welcome news, this difference between homeowner estimates and appraisal values is slightly smaller in April, and the first improvement following six mont\" \/>\n<meta name=\"robots\" content=\"index, follow, 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![\"Quicken](\"https:\/\/www.realtrends.com\/blog\/wp-content\/uploads\/sites\/9\/2021\/01\/Quicken_Loans_D_Static_June2019HPPIHVI_Graphs_P1270969_Slide5.jpg\" "\\"Quicken")
Quicken Loans\u2019 National HPPI shows appraised values 0.79% lower than homeowners estimated in May.\n <\/div>\n<\/p><\/div>