Automated valuation models (AVMs) are used to estimate the market value of homes and play a key role in mortgage lending, in some cases even replacing human appraisers. They are also a central feature of online platforms such as Zillow and Redfin. Recently, their prevalence and influence have grown as the federal agencies and the government sponsored entities Fannie Mae and Freddie Mac have allowed more mortgage lending to rely on AVM estimates.
Authors
- Acknowledgements and disclosures
- The authors would like to thank Michael Akinwumi, Alexei Alexandrov, Paul Bidanset, Eric Dunn, Talia Gillis, Logan Koepke, Brandon Lwowski, Michael Neal, Christopher Odinet, Valerie Schneider, David Silberman, Alicia Solow-Niederman, Morgan Williams, and Linna Zhu for their contributions and insight. All errors are the authors' own.
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- United States of America
