Which data source would be considered primary data in an appraisal?

Which data source would be considered primary data in an appraisal?

• A. Government statistics
• B. Published market reports
• C. National surveys
• D. Appraiser-collected observations

Answer: (D)

Primary data are data collected firsthand by the appraiser through direct observation, measurement, or interviews. In the Sales Comparison Approach, the most direct and specific evidence comes from the appraiser’s own notes and observations about the subject property and local market conditions. Therefore, appraiser-collected observations are primary data because they originate from the appraiser’s own effort rather than from published sources. Government statistics, published market reports, and national surveys are secondary data, since they are produced by others and compiled for broader use rather than collected specifically by the appraiser for the subject property.

Primary data are data collected firsthand by the appraiser through direct observation, measurement, or interviews. In the Sales Comparison Approach, the most direct and specific evidence comes from the appraiser’s own notes and observations about the subject property and local market conditions. Therefore, appraiser-collected observations are primary data because they originate from the appraiser’s own effort rather than from published sources. Government statistics, published market reports, and national surveys are secondary data, since they are produced by others and compiled for broader use rather than collected specifically by the appraiser for the subject property.