Are Home Inspectors In Demand?
It’s an important question you might have if you’re considering a move into full-time or part-time home inspection.
Are home inspectors in demand?
Fortunately, the answer is a resounding Yes!
Read on to learn why the demand for home inspectors isn’t going anywhere anytime soon. Plus, get insights into what the future holds for the home inspection industry.
What Does a Home Inspector Do?
Home inspectors are key players in the real estate transaction process and important allies for homebuyers.
A home inspector is a trained specialist hired to inspect the major systems and structural components of a home. They are typically hired during a buyer’s due diligence process – as part of an inspection contingency – before purchasing a home.
After completing an inspection, a home inspector provides the homebuyer with an inspection report that notes any major problems and recommended repairs for the property. With this knowledge on the existing condition of a home, buyers can decide if they want to move ahead with the purchase, ask for repairs, or walk away from the sale.
While most home inspectors work with homebuyers, they might also work with sellers, homeowners, commercial investors, government agencies, and insurance companies.
Is There a Demand for Home Inspection?
In short, as long as real estate properties are bought and sold, home inspectors will always be in demand. Let’s look deeper into the overall need for home inspectors today.
Why Would a Homeowner Need a Home Inspection?
Homebuyers aren’t the only people hiring home inspectors these days.
A seller might hire a home inspector to perform a pre-inspection before listing their home for sale. This helps identify potential repairs that may need to be made before listing the property. Homeowners also hire home inspectors to perform seasonal inspections for general home maintenance and safety – like inspections for pools/spas, termites, radon, septic systems, water quality, and more.
Home inspectors might also inspect homes after natural disasters and as part of the process in refinancing a mortgage.
Why Would a Commercial Building Need a Home Inspection?
Commercial building owners and investors also hire home inspectors – in this case, they’re called building inspectors.
Like home inspections, commercial inspections are part of due diligence in the sale process for multi-family apartment buildings, offices, warehouses, retail strip centers, hospitals, restaurants, and more. Often, property owners get inspections on their buildings to help figure a ballpark maintenance cost overtime. Plus, if they’re planning to renovate their property, owners might call on inspectors to help them decide if construction plans are realistic.
How Does the Current Housing Market View Home Inspections and Home Inspectors?
In 2021, a record 6.12 million existing homes were sold in the U.S. according to the National Association of Realtors (NAR). That’s the highest number since 2006. According to data from the American Society of Home Inspectors (ASHI), 77% of all homes are inspected before a purchase. This means that 4,712,400 existing homes potentially had inspections last year.
Of course, the 2021 real estate market was…lively. Housing inventory was low, some homebuyers waived home inspections to win purchases (against better advice), and lenders offered ultra-low interest rates.
Even so, some data from 2021 suggests that buyers were not actually waiving home inspections in droves. Zillow’s 2021 Buyer Consumer Housing Trends Report found that the percentage of buyers who waived inspections didn’t increase significantly last year when compared with data from the previous three years. Many of these buyers still had inspections performed after the offer to ensure any safety concerns were addressed prior to moving in.
As of summer 2022, the housing market is on a cooling trend. Housing inventory is moving toward average levels, and homebuyers appear to be doing their due diligence again.
Zillow’s just released 2022 Seller Consumer Housing Trends Report shows that the percentage of buyers who have waived home inspections thus far is at its lowest in five years.
Home inspectors are still in demand.
What Does the Future of Home Inspection Look Like?
No one has a crystal ball. But 2022 trends show an increase in buyers seeking home inspections.
Homeownership remains a big part of the American Dream. Homebuyers, sellers, investors, and homeowners will always need the services of a great home inspector.
To reiterate our short answer: As long as real estate properties are bought and sold, home inspectors will be in demand.
If you’re considering a career in the home inspection business and want to dive deeper into the real estate industry outlook, take a look at NAR’s latest housing statistics.
Ready to Make a Move into Home Inspection?
AHIT is here for you! Learn more about becoming a home inspector, find out the license requirements in your state, and even calculate your home inspector salary potential. If you have questions about our home inspector training courses, talk with a career advisor by calling 800.441.9411 or emailing [email protected].