Real Estate Appraisal Market By Appraisal Method (Mass Appraisal and Automated Valuation Models (AVMs) and Computer-assisted Mass Appraisal), By Type (Cost Approach, Sales Comparison Approach, and Income Capitalization Approach), and Geography

 

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Real Estate Appraisal Market was valued at USD 8,851.6 million in 2022 and is expected to grow at a 4.0% CAGR from 2023 to 2029. The real estate appraisal is a process of developing an opinion of value for real property usually known as market value. The real estate transactions require frequent appraisals because they occur infrequently and due to the uniqueness of every property. The increasing demand for real estate properties for residential, commercial, and industrial purpose is expected to drive the growth of real estate appraisal market over the forecast period. In addition, the government regulations mandating the appraisal of real estate properties before sale or purchase is expected to boost the growth of real estate appraisal market at a significant rate over the forecast period. Furthermore, the advent of advanced technology such as big data analytics, artificial intelligence, machine learning is anticipated to increase the accuracy and efficiency of real estate appraisals which is expected to have a positive impact on real estate appraisal market growth. Additionally, the increasing construction activities in developing countries such as India and China are expected to aid the growth of real estate appraisal market in Asia Pacific region over the forecast period. However, factors like economic uncertainty such as recession, inflation, and fluctuation in interest rates, lack of skilled professionals, strict government regulations are anticipated to hold back and hinder the growth of real estate appraisal market over the forecast period. Moreover, the integration of advanced technologies such as blockchain and virtual reality, along with increasing focus on sustainable and green buildings are expected to open up tremendous opportunities for market players in the growth of real estate appraisal market over the forecast period.  


Real Estate Appraisal Market Key Developments:
  • In October 2022, BBG, announced their acquisition of VSI Appraisal Group, a Columbus, Ohio based appraisal firm.
  • In October 2022, Credit Bureau Co Ltd. Announced their partnership with the VTrust Appraisal Co Ltd and this partnership led to the launch of Innovative digital real estate appraisal platform.

Real Estate Appraisal Market Summary

Study Period

2023-29

Base Year

2022

CAGR

4.0%

Largest Market

North America

Fastest Growing Market

Asia Pacific
Real Estate Appraisal Market Dynamics

The growing home prices provide an incentive for residential investment is the major factor creating huge demand for real estate appraisers. An appraisal is a document that establishes an opinion of value for a property. Appraisals can be performed for a variety of reasons, although the most common reason is to help a lender establish the value of the collateral that is associated with a mortgage loan. In the US, most mortgage transactions require an appraisal, which needs to be performed by a certified appraiser. However, the increased regulations coupled with low technology penetration in the industry are anticipated to hamper the growth of the market.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2018-2022), and forecast (2023-2029)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario

Real Estate Appraisal Market Segmentation

By Product Type
  • Mass Appraisal and Automated Valuation Models (AVMs)
  • Computer-assisted Mass Appraisal
By Platform
  • Cost Approach
  • Sales Comparison Approach
  • Income Capitalization Approach

Frequently Asked Questions

2021 is the base year and 2028 is the forecast year.

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.

  • CoreLogic, Inc.
  • JP Morgan Chase & Co.
  • Real Matters, Inc.
  • Wells Fargo & Company