However, appraisers frequently do not make time adjustments, even when they are likely to impact the appraised value substantially. This analysis also finds that the adjustments appraisers do make are ...

The FHFA found that 67% of low appraisals in Black communities and 49% in Hispanic communities are due to lack of time adjustments.

A Federal Housing Finance Agency (FHFA) analysis has shown racial disparities in appraisers’ use of time adjustments, potentially harming borrowers of minority groups.