Real Estate Appraisal in the US
Over the five years to 2018, the volume of appraisals performed by the Real Estate Appraisal industry has shifted unevenly amid improving construction markets, contracting and adjusting to demand in a postrecessionary environment. With easy access to and low cost of credit at the beginning of the five-year period, new residential construction increased and real estate appraisal professionals received an uptick in demand. Despite revenue turning the corner, however, operators continued downsizing and exiting the industry. Over the five years to 2023, IBISWorld projects that industry performance will be supported by a recovery in downstream real estate markets and increases in development and investment activities.
Operators in this industry specialize in estimating the fair market value of real estate. Appraisers research a property or development to determine the characteristics pertinent to its market value. Valuations for a property are carried out when it is sold, mortgaged, taxed, insured or developed.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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