On August 10 NAR sent a letter to HUD Secretay Marcia Fudge of the U.S. Department of Housing and Urban Development. The letter provides comments on the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE). The National Associtaion of REALTORS® applauds the Biden Administration’s focus on addressing the racial wealth gap and urges the Administration to include all key stakeholders in the path forward. Appraisers and appraisals are an integral and longstanding part of real estate valuation and any discussion of changing the appraisal process must include appraisers and their representatives.
NAR recognizes that residential segregation and the disparity in home values between majority-white and majority-non-white communities did not happen simply as a consequence of individual choices. Decades of explicit race-based public and private policies, involving every aspect of the real estate industry, shaped the current market. We must remedy these disparities and proceed in a manner that advances the safety and soundness of the entire real estate market.
NAR Comment Letter to HUD Secretary Fudge Regarding The Interagency Task Force on Property Appraisal and Valuation Equity (PAVE)
Issue Date: August 10, 2021
On August 10 NAR sent a letter to HUD Secretay Marcia Fudge of the U.S. Department of Housing and Urban Development. The letter provides comments on the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE). The National Associtaion of REALTORS® applauds the Biden Administration’s focus on addressing the racial wealth gap and urges the Administration to include all key stakeholders in the path forward. Appraisers and appraisals are an integral and longstanding part of real estate valuation and any discussion of changing the appraisal process must include appraisers and their representatives.
Download the Letter