East coast and Midwest overvalue homes, West undervalues, says Quicken Loans

West Coast metro homeowners don't think as highly of their home values as those on the East
  • Nationally, home values are 1.95 percent less than what homeowners think they are.
  • Denver, Colorado has the highest Home Price Perception Index, with reaching over 3 percent higher than homeowners' expected value.
  • Detroit has the lowest HPPI on the graph, dropping below 3 percent. Philadelphia has lowest HPPI of all the cities examined.

According to Quicken Loans’ Home Price Perception Index (HPPI), national home appraisals are 2 percent lower than homeowners’ expected value. This unprecedented report shows how homeowners are viewing the housing market verses the reality of the housing market.