New Appraisal Bias Report and Event

Hi First Name,

NCRC today released a new report documenting a groundbreaking study using mystery shoppers in Baltimore, MD, which showed that real estate appraisers are providing better service to White homeowners than Black homeowners, and assigning higher values to homes that they believe to be White-owned.

Black/White interracial couples who own homes served as “testers.” Seven tests were conducted, consisting of 14 appraisals. Half of the appraisers met with Black testers, and half of the appraisers met with their White partners. The results revealed that the White homeowners received better treatment from appraisers and that overall the appraisers deemed the homes to be more valuable when the White partners presented them.

To dive deeper into the report’s findings, NCRC’s leading experts will discuss appraisal bias’s effects, challenges and potential solutions, and answer your questions tomorrow October 26, from 12 pm to 1 pm ET.

Register now

Bias is a serious issue affecting the appraisal industry, which is one of the least diverse industries in the United States. Previous research studies have shown that appraisers assign far higher values to homes in White neighborhoods than comparable homes in neighborhoods that are predominantly Black and/or Latino. NCRC’s new study shows that the race of the homeowner can also play a substantial role in the valuation of a home. Communities of color have lost billions of dollars in wealth because of the routine devaluation of their homes.

For more information, visit here.

Hope to “see” you there!

Team NCRC

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