Real Estate Appraisers NAICS 531320

Jul 20, 2026 - Housing Law Includes Appraisal Reform

• According to the Appraisal Institute, the 21st Century ROAD to Housing Act includes the most significant federal appraisal reforms in years. The law strengthens oversight by the Appraisal Subcommittee through updated funding and registry fees, expands pathways for new appraisers by modernizing training and experience requirements, and allows qualified state-licensed residential appraisers to perform FHA appraisals after completing FHA-specific education. It also requires federal housing agencies to establish consistent standards for reconsiderations of value and second appraisals to improve transparency while protecting appraiser independence. In addition, the Government Accountability Office will study the feasibility of a public appraisal database to evaluate its potential benefits, costs, and privacy implications. Supporters say the changes will strengthen oversight, expand the appraisal workforce, improve consumer protections, and increase access to appraisal services.
• The Wall Street Journal reports that the housing market is showing signs of improvement. According to mortgage technology and data firm Optimal Blue, mortgage rate locks, a leading indicator of home sales, reached their highest level since 2023 in June as lock volume rose 14% from a year earlier and 10% from May. Redfin said pending home sales also increased. Mortgage rates have stabilized near 6.5%, and growing inventory is encouraging more buyers to enter the market despite affordability challenges. A modest increase in home sales could boost demand for residential appraisals by generating more purchase transactions that require property valuations. Even so, economists expect the housing market to recover gradually because elevated home prices and borrowing costs continue to limit affordability.

• According to Realtor.com, the US housing market remained steady in June as sellers adjusted expectations and buyers continued to make purchases despite mortgage rates near 6.5%. Asking prices fell 2.5% year over year, the largest decline in Realtor.com data since 2017, while pending sales rose for a seventh straight month, new listings increased 2.4%, and homes spent a median of 53 days on the market, matching last year and pre-pandemic norms. The report also highlighted growing regional differences, with prices weakening in the South and West but remaining above 2022 peaks in the Midwest and Northeast. These trends could affect the real estate appraisal industry by increasing the importance of localized market analysis as home values diverge across regions and sellers continue to price homes more realistically.
• The New York Times reports that, according to real estate investment services firm Flock Homes, about 7.2 million single-family homes are sitting vacant across the US. Many older homeowners choose not to sell because steep tax liabilities, including capital gains taxes, make it cheaper to hold properties than to list them. Homes inherited by heirs are often valued on a stepped-up basis at current market values, nearly eliminating capital gains taxes, which further discourages older owners from selling. These dynamics could distort housing supply data and complicate valuation models in the real estate appraisal industry, as comparable sales become scarcer and market activity appears tighter than underlying inventory suggests. The trend is especially pronounced in major metro areas, where retirees' unoccupied paid-off homes remain off the market despite ongoing housing shortages.