Gain a more complete picture with our CRE Appraisal Market Snapshot


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. 

Download the Snapshot

 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. 

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