AREUEA Policy Forum

The AREUEA Policy Forum aims to build bridges between research and policy making in real estate and urban policy.

Panel Discussion: “Racial Disparities in Home Appraisals”

Click the link below to access the video recording of this forum.

Video Link

September 28, 2023 | 12pm - 1pm ET

• Moderator
  • Moussa Diop, USC
    
• Panelists
  • Laurie Goodman, Urban Institute
  • Luis Lopez, University of Illinois-Chicago
  • Lyle Radke, Fannie Mae
  • Ferdie Wang, Freddie Mac
  • Linna Zhu, Urban Institute

Featured Papers

• “Do Appraiser and Borrower Race Affect Mortgage Collateral Valuation?"  (Paper Summary)
• “To Err is Automated: Have Technological Advances in the Mortgage Market Increased Opportunities for Black Homeownership?”  (Paper Summary)

Additional Resources

White House Directives to Address Appraisal Bias: Biden-⁠Harris Administration Takes Sweeping Action to Address Racial Bias in Home Valuations

Jackson, K. T. 1980. Race, ethnicity, and real estate appraisal: The home owners loan corporation and the federal housing administration. Journal of Urban History 6:419–52.

LaCour-Little, M., and R. K. Green. 1998. Are minorities or minority neighborhoods more likely to get low appraisals? The Journal of Real Estate Finance and Economics 16:301–15.

Perry, A. M., J. Rothwell, and D. Harshbarger. 2018. The devaluation of assets in black neighborhoods: The case of residential property. Brookings November:1–28.

Pinto, E., and T. Peter. 2021a. How common is appraiser racial bias? Working report, American Enterprise Institute Housing Center.

Pinto, E., and T. Peter. 2021b. Special briefing: The impact of race and socio-economic status on the value of homes by neighborhood. Working report, American Enterprise Institute Housing Center.

Williamson, J., and M. Palim. 2022. Appraising the appraisal. Fannie Mae Working Paper.

Freddie Mac. 2021. Racial and ethnic valuation gaps in home purchase appraisals. Freddie Mac Economic & Housing Research Note.

Freddie Mac. 2022. Racial & ethnic valuation gaps in home purchase appraisals - A modeling approach. Freddie Mac Economic & Housing Research Note.

Bogin, A. N., and J. Shui. 2020. Appraisal accuracy and automated valuation models in rural areas. The Journal of Real Estate Finance and Economics 60:40–52.

Cho, M., and I. F. Megbolugbe. 1996. An empirical analysis of property appraisal and mortgage redlining. The Journal of Real Estate Finance and Economics 13:45–55.

Fishback, P. V., J. LaVoice, A. Shertzer, and R. Walsh. 2020. Race, risk, and the emergence of federal redlining. Working Paper, National Bureau of Economic Research.

Flippen, C. 2001. Racial and ethnic inequality in homeownership and housing equity. Sociological Quarterly 42:121–149.

Ding, L., & Nakamura, L. (2016). The impact of the home valuation code of conduct on appraisal and mortgage outcomes. Real Estate Economics, 44(3), 658-690.

Agarwal, S., B. W. Ambrose, and V. W. Yao. 2020. Can regulation de-bias appraisers? Journal of Financial Intermediation. 44

Howell, J., and E. Korver-Glenn. 2020. The increasing effect of neighborhood racial composition on housing values, 1980–2015. Social Problems. 32

A Blueprint for Mass Screening Appraisers for Racial Bias and Inaccuracy Based on an Atlanta, GA Study

The AREUEA Policy Forum aims to build bridges between research and policy making in real estate and urban policy.