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Veros’ latest analysis of the VeroVALUE AVM confirms no systemic undervaluation or overvaluation across minority communities, reinforcing fairness and accuracy in the AVM results.
2024 Year-End Update: “AVM Performance: Is There Evidence of Racial Bias?” Read More »
Veros is proud that VeroVALUE AVM fully complies with the June 2024 federal quality control standards. Our new guide explains how VeroVALUE meets these requirements, ensuring accuracy and reliability in automated valuations. Discover how Veros supports your compliance efforts and enhances your AVM performance with our detailed compliance guide.
Compliant AVM Services: VeroVALUE AVM and the New Federal Quality Control Standards Read More »
In our ongoing commitment to transparency and equity, Veros Real Estate Solutions (Veros®) is pleased to present the latest update to our research study, “Does historical redlining influence today’s AVM estimates,” authored by Reena Agrawal, Veros’ Research Economist, and Eric Fox, Veros’ Chief Economist and Senior Vice President of Analytics.
2024 Study Update on “Does Historical Redlining Influence Today’s AVM Estimates” Read More »
Veros’ study examined AVM predictions for single-family properties in redlined versus non-redlined neighborhoods close to one another in Los Angeles, California. Veros’ economists used this approach because mortgage funds were historically abundant for non-redlined areas, while they were scarce or non-existent for redlined areas. To enable proper testing, the areas selected for analysis had single-family homes on both sides of the boundaries.
Veros’ Study Demonstrates Its AVM is Not Influenced by Historical Redlining Read More »
The results revealed no evidence of racial basis in the VeroVALUE AVM.
“We found that the proportion of properties that are undervalued by 15% or more is not correlated with the proportion of Black, Hispanic, Asian, or White populations,” said Eric Fox, Veros Real Estate Solutions Chief Economist. “This is crucial because it addresses concerns about undervaluations of minority-owned properties.”
Automated Valuation Models Can Help Identify Home Appraisal Bias in Minority Communities Read More »
