Number of Certified Appraisers on the Rise
Source: Appraisal Buzz
Excerpt: “Even with the myriad challenges in today's residential and commercial real estate markets, the percentage of appraisers with a certification is at an all-time high, according to Appraisal Institute research. However, because more than half of appraisers in the U.S. are age 51-65, and since many have left the industry in recent times, there needs to be a concerted and strategic effort to attract younger individuals into the profession.
The Appraisal Institute has analyzed the Appraisal Subcommittee National Registry data since 2006 using a consistent methodology, and the long-term trend is now clearer:
The number of appraisers continues to decrease at a rate of about 3 percent per year; Appraisal firms decreased the number of trainees dramatically over past two to three years; and The appraiser population could decrease 25 to 35 percent over the next 10 years due to age attrition and fewer new entrants....While the overall number of appraisers is decreasing, the number of certified general and residential appraisers is on the upswing.”
Comment: Interesting analysis. Well worth reading. Don't be “put off" by the AI promoting itself towards the end of the article. To read the article in full, click here.