At the end of the housing boom, mortgage volume and home sales have dropped more significantly than the number of licensed and certified appraisers.
“The result is an oversupply of appraisers, with more of them willing to come up with valuations to make a transaction work,” writes Bloomberg housing columnist Jonathan J. Miller. “This combination is why an estimated one in seven appraisals is inflated by as much as 20 percent,” Miller adds.
PB Topical Ref
