June appraisal volume wrapped up on a low note despite starting the month on a high.
According to the latest National Appraisal Volume Index, appraisal volume fell 1.9% for the week of June 26.
This chart shows volume over the past four weeks.
Click to enlarge
(Source: a la mode)
a la mode is an appraisal forms software company that provides its findings exclusively to HousingWire each week.
And while the four-week average did rise to 3.9%, it was only the result of the low Memorial Holiday week that dropped off, explained Kevin Golden, director of analytics with a la mode.
Golden redid the math, keeping the holiday week, and found that the five-week average is only 0.1%.
And next week doesn’t look like it will be much better, with volume once again getting blocked by a holiday.
Looking ahead, Golden said that he would estimate volume to drop between 15% to 20% next week but recover, per usual, in the week after.