CoreLogic has launched Total Home ValueX, a new automated valuation model (AVM) designed to eliminate the need for multiple AVMs.
The company says Total Home ValueX uses a single, uniform model methodology to render highly accurate valuations across all business use cases – without sacrificing hit rate – even on hard-to-value properties. The AVM provides current market values for the U.S. residential housing stock through CoreLogic’s property records – which capture 99.9%+ of U.S. properties and span 50+ years – as well as MLS data and newly added data sources not traditionally used in AVMs.
“The market continues to change, and it was time to re-imagine the traditional approach to building AVMs,” says CoreLogic’s Olumide Soroye. “This ground-breaking AVM platform is powered by a rich data set that is refreshed daily, cloud computing, and machine learning techniques, leading to superior AVM performance that can be validated with independent testing.”
Photo: Olumide Soroye