While there’s more demand for their services today, real estate appraisers are “cautiously optimistic” that demand will remain strong for the next year or two, according to a survey by the Appraisal Institute, the nation’s largest association of appraisers.

The survey found 95 percent of residential appraisers said there is more demand for their services than there was a year ago. But only 32 percent expect there will be more demand for their services in a year or two than there is now.

Like mortgage originators, appraisers are likely to see a decline in business as rising mortgage rates put the brakes on the refinancing boom.

In a June 20 forecast, the Mortgage Bankers Association predicted that mortgage originations will plummet by 30.6 percent from this year to next, to $1.09 trillion. While the MBA expects refinancings to drop by 60.1 percent, to $388 billion, the good news for Realtors is that purchase loan originations are projected to rise by 17.2 percent, to $703 billion.

Source: appraisalinstitute.org.

Back to top
New January Connect speakers added: M. Ryan Gorman, Josh Team, Glenn Kelman and more.SEE THE SPEAKERS×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription