Accuracy - AVMetrics

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The extent to which an AVM’s valuations approximate actual market values. Analysts usually examine a model’s overall accuracy through two different types of metrics – measures of AVM bias and measures of AVM precision.

Glossary: Credible appraisal
In the World of AVMs, Confidence Isn’t Overrated
The "Confidence Scores" provided with most AVMs are not standardized, but they are a very effective guideline estimating the accuracy and precision of AVM value estimates.
Four Points to Consider Before Outsourcing AVM Validation
AVMs are great, but using them properly requires being careful to follow the rules set by the OCC. This paper outlines how to outsource AVM validation and stay in "compliance" with regulators' requirements.
AVMetrics Responds to FHFA on New Appraisal Practices
Why Mark Sennott’s Whitepaper Stopped Us Cold
We have mixed feelings about Mark Sennott's whitepaper. He echoes our concerns about why AVM testing is important, but he reveals that AVM test results are NOT determining which AVMs are used.

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