Appraisal Now

NAR | In Q2 2025, 75% of US metro markets saw home price gains (down from 83% in Q1). National median hit record $429,400 (+1.7% YoY). Northeast led gains at +6.1%, South flat. Midwest/Northeast rising due to affordability/inventory. South correcting from oversupply. Sales lag job growth due to high rates.

Michigan Farm News | Michigan led US farm value growth at 7.8% ($6,800 per acre), far above national 4.3%. Cropland rose 8.2% to $6,350 per acre (second highest growth). Michigan’s growth was driven by federal aid, not strong fundamentals, creating concerns for renters and new farmers facing high costs.

Farm Bureau | Agricultural land values rose 4.3% to $4,350 per acre in 2025, marking the 5th straight year of increases but at a slower pace. Cropland hit record $5,830 per acre (+4.7%) and pasture $1,920 per acre (+5%). Cash rents barely budged at $161 per acre (+0.6%).

The Texas Tribune | Senate Bill 15 passed the Texas Senate unanimously to combat deed fraud--scammers filing fake deeds to sell others' property or get loans. Requires ID for property filings. Now goes to House where fate uncertain due to Democrats' exodus over redistricting. Creates criminal penalties, extends prosecution limits.

Restaurant Dive | Casual dining real estate faces major challenges as property sale success rates dropped from 72% in 2021 to 37% in 2024. Size mismatches between large casual dining spaces (avg. 7,600 sq. ft.) and smaller fast-casual needs (2,400 sq. ft.) make conversions costly at $200 per square foot. COVID changed dining habits, labor costs rose, and many brands closed or filed bankruptcy, creating property gluts with few buyers. Some recovery signs emerge as development activity increases in 2025.

Federal Reserve Bank of St. Louis | A May 2025 tornado caused $1.6 billion in damage in St. Louis. Research on Little Rock's 2023 tornado shows undamaged homes near damaged properties lost 36% of their value initially but recovered within 9 months. Effects fade with distance. Low-income areas may recover more slowly without adequate resources, but government aid helps equalize recovery across income levels.

Newsweek | Zillow faces two major lawsuits: CoStar claims it illegally used 47,000 watermarked photos seeking up to $1 billion in damages, while Compass filed an antitrust suit over Zillow's listing ban policy. Both challenge Zillow's market dominance and could reshape how real estate platforms operate and share content.

Forbes | Housing market activity has slowed due to high mortgage rates (6.8%), elevated home prices, and economic uncertainty. However, signs point to a potential rebound: mortgage rates may decline with expected Fed cuts, housing prices have plateaued, consumer sentiment is improving, and the NAR Housing Affordability Index is above 100. The market appears poised for a turnaround.

Daily Herald | Chicago’s 2025 commercial real estate market shows growth in the industrial, multifamily, and mixed-use sectors. Districts like Fulton Market attract investment for live-work-play communities. Office conversions create opportunities despite vacancy challenges.

Marketwatch | Trump considers eliminating capital gains tax on home sales to boost housing supply. California would benefit most (25% of homes with $250,000+ gains). Critics say it mainly helps wealthy homeowners with average $5.7 million net worth, $431,000 income.

Capital Press | Oregon Agricultural Trust helps farmers preserve working land through conservation easements, protecting 30,800 acres so far. Landowners get paid to forego development rights, keeping land affordable for farming while preventing subdivision into ranchettes.

ChosunBiz | South Korean financial authorities are considering regulations for external appraisal firms after Company A’s fraudulent accounting scandal involving inflated asset values. The current laws lack penalties for poor evaluations by accounting firms and credit agencies.

Sherwood | UK house prices had biggest monthly drop in two years and steepest decline in two decades, but remain unaffordable. Houses cost 5.9x median wages in Wales, 7.7x in England, and 11.06x in London despite recent price falls.

Capitol Hill Seattle Blog | The Seattle City Council considers legislation to protect homeowners from predatory buyers who make unsolicited offers. The proposal would require appraisals, provide cancellation rights, and impose stricter penalties. It aims to address displacement concerns, especially in communities of color like the Central District.

The Richmonder | Richmond’s Affordable Housing Performance Grant Program refunds developers’ increased property taxes for building affordable units (60% AMI). Since 2022, 25 projects have been approved for 3,213 units. The program costs the city $7.2 million annually in foregone taxes but addresses housing crisis.