Automated Valuation Models Can Help Identify Home Appraisal Bias in Minority Communities
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.”
Economic Insights & Indicators
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The Latest
Despite rising prices and mortgage rate, why are home prices forecast to rise even higher?
The data suggests that while some first-time homebuyers are getting priced out of the housing market due to affordability, prices are being driven by demand from repeat and all-cash buyers as they compete for a low supply of homes.
Corporate Investor Home Purchases are at the Highest Levels in a Decade
The recent hot housing market has led to a sharp rise in single-family home investor purchases. The large increases experienced in the housing market have …
Will Increasing Interest Rates Finally Slow Down the Housing Market in 2022? Veros Predicts Not Likely
Today’s Q1 2022 VeroFORECAST report anticipates home prices will appreciate on average 7.1% for the next 12 months. Veros’ VeroFORECAST evaluates home prices in over 330 of the nation’s largest housing markets and reveals the cities expected to be the Strongest- or Least-performing metros in America.
Sanctions on Russia Will Likely Impact the Global Economy. What About the U.S. Housing Market?
For the time being, the war will likely amplify the supply chain disruptions and add to the already high inflation resulting from the pandemic, and home prices in the US are likely to stay on their upward trajectory.
How Natural Disaster Alert Data Is Changing Mortgage Lending and Servicing
Watch this webinar for a look at how data alerts for property listings and natural disasters can help impact better decision-making for lenders and servicers.
Will Inflation Slow or Grow the Housing Market?
Inflation is wiping out recent wages increases. As supply shortages continue and spending remains strong, many consumers are feeling the impact with a 7.0% rise in food prices and a 40% hike in gasoline prices over the past one year.
