Appraisal volume managed to stay afloat during the Labor Day holiday, which typically impacts volume due to the shortened week, and now, looking at the latest report from a la mode, it more than bounced back the week after.

The previous report found that the Labor Day holiday impacted volume significantly less than the average 13.1% decline, only falling 9.7% for the week.

And according to the newest report, volume surged 14% for the week of Sept. 11.

“The bounce back nearly erased the previous three-week slide in volume moving the four-week average growth to a -0.1%,” explained Kevin Golden, director of analytics with a la mode.

Check the chart below, which is provided exclusively to HousingWire from a la mode, to see appraisal volume over the past four weeks.

Click to enlarge

appraisal

(Source: a la mode)

Appraisal volume is an indicator of market strength and holds some advantages over weekly mortgage applications.

For example, fallout is less for appraisals since they are ordered later in the mortgage process, after creditworthiness is determined, and there are few multiple-orders, by the time an appraisal is conducted.

Most Popular Articles

Realtors expect these to be the 10 hottest housing markets for the next 3-5 years

Here are the 10 housing markets that the National Association of Realtors expects to the hottest in the nation in the next three to five years.

Dec 11, 2019 By

Latest Articles

Gateway First Bank makes two key hires

Gateway First Bank made back-to-back announcements this week regarding two key hires. The bank welcomed Joell Maddox as director of treasury services and Thomas Ramm joined as chief investment officer.

Dec 12, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please