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National home value index slightly increased in June

Staff writer |
Detroit-based Quicken Loans reported that appraiser home value opinions fell further below homeowner estimates in June. This is the fifth consecutive month of this trend at the national level.

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Appraiser opinions of home values were 1.4 percent lower than homeowner estimates, according to Quicken Loans' monthly national Home Price Perception Index (HPPI).

Quicken Loans' national Home Value Index (HVI) reported a slight increase of 0.74 percent in June, with home values increasing in all regions of the country except for the South, which posted a decline of 0.09 percent. National home values are up 4.38 percent from the year prior.

June marks the fifth consecutive month appraisers have estimated home values below homeowner estimates. During this five-month period, the gap between homeowner and appraiser estimates has increased each month, with an average 1.4 percent difference in June.

Home values inched higher in June, increasing 0.74 percent from the month prior. Yearly growth has slowed slightly from the annual level of the previous month, but still posted a 4.38 percent annual increase. The South was the only region to post a monthly decrease in home values, dropping by 0.09 percent.

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