Gain a more complete picture with our CRE Appraisal Market Snapshot

2022

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2022 Appraisal Snapshot

Key findings of this report:

 You’ll get a deep dive into commercial real estate trends through 2022 including these insights: 

  • Biggest percentage change in appraisal project volumes from 2021 to 2022 occurred in the Southeast, Northeast and Southwest U.S. regions.
  • RFPs for appraisal projects declined after a strong Q1 2022 in response to higher rates. Awards in 4Q-22 reflected the lowest quarterly volume of the year.
  • In 2023, demand for industrial and multi-family is expected to dominate investment and lending activity, but likely at lower levels than seen in 2021 and 2022. 


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 We saw appraisers struggle to meet demand throughout much of 21’ and 22 and turn-times expand from less than 14 days to just over 20 days. The recent market softening has seen a reversion to more typical timeframes and appraisers have become far more active pursuing new jobs as RFP response rates surpassed 80% for the first time in recent years. 

Andy Leibman
General Manager, Lender & Valuation

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