Precision - AVMetrics

The dispersion of a model’s valuation errors, with greater dispersion being considered less precise, and lower dispersion being considered more precise. Mean and median absolute error, standard deviation and forecast standard deviation are all measures of an AVM’s precision.

Glossary: Percent Predicted Error (PPE) Bucket
Glossary: Validity
AVMetrics’ Compliance Package
Glossary: Statistical Precision
How AVMetrics Tests AVMs Using our New Testing Methodology
AVMetrics has a new method of testing AVMs. The goal is to avoid the process of "anchoring," which is when AVMs adjust their valuations based on listing prices. Our new method is a dramatic innovation that will level the playing field for all the AVMs.