Real estate appraisal firms were one of the hardest hit businesses when the economy market flat-lined in 2007 and 2008, and the profession has been contracting ever since. A study by the Appraisal Institute in April 2013 revealed that the profession could see its personnel decrease 25 to 35 percent over the next decade. The majority of appraisers are over 50 and new entrants to the field have been steadily declining over the last 7 years as a sluggish real estate market provided less demand for the service.
Despite the recent difficulties, a majority of appraisers were expressing moderated satisfaction in the strength of the American housing market in April 2013, according to a survey by Unites States Appraisals. When asked "What is your current level of confidence in the housing market?" in April 2013, 57 percent reported being mildly confident, while almost 25 percent expressed neutrality.
Home prices are on the rise, according to appraisers polled. Among respondents to the United States Appraisals survey, 46.2 percent report a mild increase in home values in their area. Order volumes were also on the rise, 18.5 percent of respondents reported significant volume increases, 26.2 percent reported a mile increase and only 15.3 percent noted reductions.