ASHI/NAR study suggests dramatic growth in home inspection industry
A recent study completed by the American Society of Home Inspectors (ASHI®) and the National Association of Realtors (NAR®) estimates that nearly 4.9 million home inspections were completed in the U.S. in 2000. Conducted on more than 77 percent of all homes sales, home inspections have become an integral part of the real estate transaction process.
The first-ever National Home Inspection Study shows that existing single-family homes were the primary living unit in which inspections were completed in 2000, totaling nearly 4 million.
Apartments/Condos/Co-ops and newly constructed homes made up the remainder of inspections, where approximately 537,000 and 377,000 home inspections were obtained, respectively.
Regionally, the South led the nation with nearly 2 million home inspections last year. This is followed by the West (1.4 million home inspections), the Midwest (900,000) and the Northeast (620,000).
“It’s clear from the study that more people are recognizing the importance of home inspections,” said John Ghent, ASHI president of ASHI. “By hiring a qualified home inspector, the client gains an understanding of the overall condition of the home, which can prevent surprises down the road.”
The National Home Inspection Study surveyed home buyers and real estate agents via an omnibus poll, and found that among those who retained an inspector, ninety-seven (97%) percent believe that the home inspection was a good value for the price they paid.
These and other key findings, as well as additional information on the methodology employed in the study, are available from ASHI (Website:www.ashi.org. )