Advancing Equity in the Home Valuation Process

Virtual Event on Thursday, July 29, 2021 from 2:00-4:00 PM EST

News provided by

HUD's Office of Policy Development and Research

Jul 22, 2021, 08:46 ET

WASHINGTON, July 22, 2021 /PRNewswire/ -- On July 29, 2021, HUD's Office of Policy Development and Research (PD&R) will host an event focused on how racial bias in the home valuation process contributes to racial wealth disparities in the United States. HUD Secretary Marcia L. Fudge will discuss President Biden's recent charge to HUD to lead the interagency task force on appraisals, an initiative HUD now calls PAVE – Property Assessment Valuation Equity. A panel of experts will reflect on home appraisal bias and the related but distinct systematic devaluation of homes in minority neighborhoods, delving into topics including the potential for automated valuation models to help identify appraisal bias. Please join our diverse group of experts from research, industry, and government for this PD&R Quarterly Update.

Opening Remarks

Secretary Marcia L. Fudge, U.S. Department of Housing and Urban Development

PAVE Interagency Task Force Overview

Melody Taylor, PAVE Executive Director; Regional Director, HUD's Office of Fair Housing and Equal Opportunity

Keynote Speaker

Lisa Rice, President and CEO, National Fair Housing Alliance

Discussion: How Racial Bias in the Home Valuation Process Contributes to Racial Wealth Disparities in the United States

Alanna McCargo, Senior Advisor, Housing Finance, Office of the HUD Secretary – Moderator
Svenja Gudell, Chief Economist, Zillow Group
Noerena Limón, Senior Vice President, Public Policy and Industry Relations, National Association of Hispanic Real Estate Professionals
Michael Neal, Senior Research Associate, Urban Institute
Andre M. Perry, Senior Fellow, Brookings Metropolitan Policy Program

Update on U.S. Housing Market Conditions