Dublin, Dec. 03, 2021 (GLOBE NEWSWIRE) -- The "The US Real Estate Appraisal Market: Size and Forecasts with Impact Analysis of Covid-19 (2021-2025 Edition)" report has been added to ResearchAndMarkets.com's offering.
Economic uncertainty is at an unprecedented level as a result of COVID-19. The pandemic has dampened both nonresidential and residential construction markets. Consequently, demand for industry services is witnessing a decline in 2020. The market is expected to showcase recovery from 2021 owing to the full-scale resumption of economies which would reinvigorate the aforementioned construction markets.
The report titled The US Real Estate Appraisal Market: Size and Forecasts with Impact Analysis of Covid-19 (2021-2025 Edition) provides an in-depth analysis of the US appraisal market by value, by number of licenses held, number of active appraisers, by primary occupation, etc.
The competition in the US Real Estate Appraisal Market is very fragmented, with several local and regional players procuring a major share of the market. Furthermore, the key players of the US real estate appraisal market are CoreLogic, Inc., Real Matters, Inc., Wells Fargo & Company and JP Morgan Chase & Co. which are profiled with their financial information and respective business strategies.
An appraisal is a document that establishes an opinion of value for a property. Appraisals can be performed for a variety of reasons, although the most common reason is to help a lender establish the value of the collateral that is associated with a mortgage loan. In the US, most mortgage transactions require an appraisal, which needs to be performed by a certified appraiser.
Financial crises have played a critical role in shaping the relevant regulations to the appraisal process. The appraisal of a property could be done either in-house or through third-party known as Appraisal Management Company (AMC).
An AMC serves as a coordinator between the bank and a panel of independent third-party appraisers, which perform the actual appraisal work.
The AMCs are either traditional AMC in which the appraiser visits the property site to assess the value of the property or Digitalized version of AMC known as Automated Valuation Model (AVM).
An AVM can come up with a property value much more quickly, and at a much lower cost, than a human appraiser, by applying a valuation model of some sort against various sets of data. The AVMs have their own set of features and shortcomings that may evolve with time. The AVMs are at a niche stage of penetration in the US currently.
Companies Mentioned
- CoreLogic, Inc.
- JP Morgan Chase & Co.
- Real Matters, Inc.
- Wells Fargo & Company
Key Topics Covered:
1. Executive Summary
2. Introduction
2.1 Mortgage Industry: An Overview
2.1.1 History of Mortgages
2.1.2 Mortgage Lending Process
2.2 Appraisal: An Overview
2.2.1 The Rise of Appraisal Industry
2.2.2 Appraisal Process
2.2.3 Mode of Appraisal
2.2.4 Appraisal: Country Outlook
2.3 AMCs: An Overview
2.3.1 Comparison of AMCs
2.3.2 Type of AMCs
2.3.3 Type of AMCs: A Comparison
2.3.4 Features of Digitalized AMC (AVM)
2.3.5 Shortcoming of Digitalized AMC (AVM)
2.3.6 Digital Management of End-to-End Appraisal Process
3. The US Market Analysis
3.1 The US Real Estate Appraisal Market: An Analysis
3.1.1 The US Real Estate Appraisal Market by Value
3.1.2 The US Appraisal Market by Number of Licenses Held
3.1.3 The US Appraisal Market by Number of Active Appraisers
3.1.4 The US Appraisal Market Share by Licensed and Certified Appraisers
3.1.5 The US Appraisal Market by Home Sales per Active Appraiser
3.1.6 The US Appraisal Market by Number of Employees
3.1.7 The US Appraisal Market Share by Employment Status
3.1.8 The US Appraisal Market Share by Time in Profession
3.1.9 The US Appraisal Market Share by Primary Occupation
3.1.10 The US Appraisal Market Share by Organization
4. Impact of Covid-19
4.1 Impact on the US Real Estate Appraisal Market
4.1.1 Appraisals amidst Covid-19
4.1.2 Technological Innovations
4.1.3 Collaboration of Homeowners with Appraisers
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Technology Penetration in the Appraisal Industry
5.1.2 Growth In Housing Market
5.1.3 Improvement in Communication between Parties
5.1.4 Automation of Data-Gathering
5.2 Challenges
5.2.1 Shrinking Supply of Appraisers
5.2.2 Less Appealing Mortgage Appraisal Business
5.2.3 Restricted Demand for Appraisers Based on the Region
5.2.4 Availability of Alternative Processes
5.2.5 Quality Control Issues
5.2.6 Regulatory and Audit Compliance
5.3 Market Trends
5.3.1 Growing Senior Housing Momentum
5.3.2 Fragmented Mortgage Lenders Market
5.3.3 Improvement in Logistical Management of Appraisers
5.3.4 Changes to Licensing Requirements
5.3.5 Availability of On-Site and Report Creation Workflows
6. Competitive Landscape
6.1 The US Appraisal Market Competitive Landscape
6.2 The US Appraisal Market Players by Market Share
6.3 The US Appraisal Market Players: Competitive Analysis
7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/1h95lm
