Millennials Show Rising Interest in Appraisal Profession, Changes to USPAP, and More Appraisal News

Millennials Show Rising Interest in Appraisal Profession, Changes to USPAP, and More Appraisal NewsIs the appraisal profession about to see a surge of newcomers? The industry sees a major spike in Millennial exam takers. The real estate market sees a significant drop in home sales competition. The ASB announced last week that it will be issuing a Fourth Exposure Draft of changes to USPAP for the 2020-21 edition. And here at McKissock, we just released the new 2019 Appraisal Income Guide.

Appraisal profession sees major uptick in Millennial interest

It’s no secret that the appraisal profession has been shrinking in recent years, and there aren’t many young appraisers. Surprisingly, the number of individuals who sat for the first time for one of the three National Uniform Licensing and Certification Exams in 2018 increased significantly, with the number of Millennial test takers spiking 200% compared to the previous year. Read more.

Home sales competition is way down

Bidding wars among prospective home buyers have dropped significantly nationwide. Redfin reports that only 1 in 8 offers faced competition in January, down by more than half from a year earlier. The most competitive housing markets last month were Portland, Denver, and San Diego. The least competitive were Miami, Dallas, and Houston.

ASB to issue Fourth Exposure Draft on changes to USPAP for 2020-21

At its public meeting in Scottsdale, Arizona last Friday, the Appraisal Standards Board of The Appraisal Foundation announced that it will be issuing an additional exposure draft of changes to USPAP for the 2020-21 edition. More info here.

New report reveals where high-earning appraisers excel

Here at McKissock, we’re excited to announce the release of the 2019 Appraisal Income Guide designed to uncover how real estate appraisers go about their business and what it means to their bottom line. The report analyzes appraiser income data gathered by McKissock Learning from nearly 400 active appraisers across the United States. Learn more.

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