The Global Real Estate Appraisal Market is estimated to grow at a healthy CAGR during the forecast period. The U.S. Real Estate Appraisal Market was valued at USD 7.6 billion in 2020.

A number of key factors are fueling rising demand for real estate appraisal services. Low mortgage rates have spurred high home buying and refinancing activity, necessitating appraisals for loans. Commercial real estate transactions also remain robust, requiring detailed valuations.

Appraisals are essential for tax assessments, estate planning, divorces, lawsuits, and many other needs outside of financing. Population and economic growth in certain markets is further increasing appraisal demand.

Compliance changes are also driving volume. New rules require separate appraisals for construction loans at different phases. Appraiser rotation is now mandated to reduce bias.

The popularity of non-traditional home loans and alternative commercial lending sources not covered by standard guidelines necessitates more specialized appraisals.

Advances in building efficiency call for updated approaches to valuations. So too do evolving property types like green buildings and tiny homes.

Rising material and labor costs must be considered more regularly to prevent appraisal lag. Disasters spur demand for damage assessments.

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Key Players

Key players operating in the global real estate appraisal market are-

CoreLogic, Inc. (The U.S.), Real Matters, Inc. (Canada), Wells Fargo & Company (The U.S.), JP Morgan Chase & Co. (The U.S.), CBRE (The U.S.), The Accurate Group (The U.S.), Clarocity (The U.S.), and Flatworld Solutions Pvt. Ltd. (India).

Regional Analysis

By region, Asia Pacific witnessed the largest market share.

  • This is mainly attributed to the booming construction activities in the developing economies of China, India, and the South Asian countries of Hong Kong, Singapore, and Indonesia among others.
  • Moreover, increasing standards of living, as well as growth in nuclear families, results in the sales of old apartments shifting to new houses, thus driving market growth in the region.

Conclusion

With real estate remaining a critical asset, transactions, regulatory shifts and market changes will continue requiring timely, accurate property appraisals. The combination of higher volume and rising complexity is fueling strong demand.

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