It’s beginning to look a lot like Spring in the housing market, with some key indicators pointing to stronger homebuying activity. In this article, Brena Swanson, Digital Reporter for HousingWire.com, looks at the latest appraisal volume data.
Appraisal volume jumped 8.4% for the week of Feb. 21, marking the fifth consecutive week of increases, as the spring homebuying season draws closer, according to a la mode, an appraisal forms software company that tracks appraisal volume throughout the country.
While the increase the previous week was minimal, it still ticked up 1.9% for the week of Feb. 14.
Appraisal volume is an indicator of market strength and has some advantages over mortgage applications. Fallout is less for appraisals since they are ordered later in the mortgage process after credit worthiness determined and there are few multiple-orders.
