How many AVMs are in use in the US?
As of 2021, the exact number of Automated Valuation Models (AVMs) in use in the United States is not publicly available. AVMs are used by a variety of organizations, including banks, mortgage lenders, real estate companies, and government agencies, and their use has become increasingly common in recent years.
AVMs are automated systems that use algorithms and data from public records and other sources to estimate the value of a property. They are often used as a quick and cost-effective alternative to traditional property appraisals, and they are especially useful in real estate transactions where time is of the essence.
While the exact number of AVMs in use in the US is not known, it is safe to say that they are widely used and play an important role in the real estate industry.
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