HouseCanary’s Automated Valuation Model Ranked Among Top in the U.S. for Second Consecutive Year
SAN FRANCISCO--(BUSINESS WIRE)--HouseCanary, Inc. (“HouseCanary”), a nationwide brokerage and leading provider of residential real estate analytics, home valuation tools and integrated customer engagement platforms, today announced that it has been recognized by Fitch Ratings (“Fitch”) as a top automated valuation model (“AVM”) provider for the second consecutive year. HouseCanary believes this recognition reflects the growing understanding across the residential real estate ecosystem of the necessity for more accurate AVMs.
AVMs are used to estimate the ongoing market value of residential real estate, and help consumers, lenders and investors alike instantly and accurately assess the value of a property in a quick and cost-effective manner. Now more than ever, AVMs are driving innovation in the real estate and mortgage industries due to increased accuracy, innovation, processing power and the availability of robust data.
Notably, the Residential Mortgage Backed Securities (“RMBS”) rated by Fitch depend on AVMs to support effective due diligence on already-appraised properties. HouseCanary completed Fitch's AVM vendor review last year and was first approved for use with Fitch-rated RMBS transactions in 2019. This has reinforced investors’ confidence in HouseCanary’s property valuations for analysis purposes and risk management programs.
“As a true pioneer of the AVM category, we are extremely proud to once again be recognized by Fitch as a leader in our field,” said Jeremy Sicklick, CEO and Co-founder of HouseCanary. “Fitch’s annual assessments of AVM providers spotlight the growing demand and need for transformative technologies in the housing, property loan, REIT and RMBS markets. As we continue to see an acceleration in automation and digitization across the ecosystem, HouseCanary plans to help clients stay a step ahead with the best AVMs and solutions.”
Top financial institutions, investment firms, lenders and consumers are increasingly turning to HouseCanary for trusted brokerage solutions, including AVMs.
“By helping improve price discovery and supporting enhanced liquidity, AVMs are revolutionizing how transactions and trades are executed across the real estate world,” added Chris Stroud, Chief of Research and Co-Founder. “Market participants are increasingly aware that alternative valuation methods can be more time consuming and expensive. Thankfully, they can rely on HouseCanary’s market-leading AVMs to support greater efficiency and speed when selling homes, trading loans or bonds, and executing real estate transactions.”
Founded in 2013, valuation-focused real estate brokerage HouseCanary provides software and services to reshape the real estate marketplace. Financial institutions, investors, lenders, mortgage investors, and consumers turn to HouseCanary for industry-leading valuations, forecasts, and transaction-support tools. These clients trust HouseCanary to fuel acquisition, underwriting, portfolio management and more. Learn more at www.housecanary.com.
VP Communications, HouseCanary