December 2022
According to a 6abc analysis of Federal Housing Finance Agency data, from 2018 to 2020 at least 18,922 homes sold in Pennsylvania were appraised below market value. Of those, over 1,700 were in Philadelphia and much more common in majority-minority neighborhoods.
6abc’s feature story on this data and the impact on home owners included an interview with Carlo L. Batts, MAI of Rittenhouse Appraisals. Carlo was tapped to provide insights on how the path to become an appraiser is full of challenges for people of color and is one reason for these under appraisals.
