UAD Stats made available to the public yesterday

[CGinMN]

I would guess there is more of a tendency for appraisals to constrain the market than in properties where there is less homogeneity and thus more room for discrepancies that can't be proven or disproven. When all the comps generally indicate similar values, often with minimal adjustment, it would be harder to move the market (assuming, of course, that appraisals below contract lead to closings at contract more often than not). Not saying this is how it should be, just a possibility.

It's a good hypothesis, but wouldn't the same hold true for market participants who set prices and make offers?

 

[Elliott]

Where are the stats the prove appraisers are bias and need PAVE and there's a shortage so we need PAREA? Looks like appraisers do their job, most of the time the value is there, sometimes not, but demand for reports changes significantly from year to year.