CoreLogic is revolutionizing the property industry with its Automated Valuation Model (AVM), combining extensive property datasets, advanced AI modeling, and decades of expertise. The Smart Data Platform initiative has played a key role in driving these advancements, delivering over one million additional usable AVMs and significantly improving efficiency across the digital home loan ecosystem.
Since its last update in February 2023, CoreLogic’s AVM accuracy has increased by 8%, thanks to continuous improvement, rigorous testing, and the integration of cutting-edge AI and machine learning techniques. This uplift is powered by the Smart Data Platform, which offers a seamless data ingestion framework and proprietary AI modeling processes, providing a near real-time, multi-dimensional view of properties that enhances the usability of AVMs.
CoreLogic is committed to further innovation, actively investing in proprietary models and data sources to add even greater value for its customers. With the latest release, over one million additional usable AVMs are now part of CoreLogic’s data universe, further improving operational efficiencies for lending customers.
James Vaughan, CoreLogic’s Head of Data and Analytics, highlighted the importance of the Smart Data Platform, assuring customers that their strategic decisions are backed by the most current and comprehensive property data available. CoreLogic’s AVMs are now trusted by over 80% of the top 50 residential lenders in the country, with almost 90% of AVM-powered estimated property values falling within 15% of the actual sale price since early 2024.
These improvements not only boost confidence among lenders and their customers but also lead to more informed decision-making across the real estate industry. Reliable valuations are essential for sound judgments and strategic moves, benefiting everyone from buyers and sellers to investors and insurers.
In the coming months, CoreLogic will enhance the accuracy and depth of its AVMs through continual updates, including advanced image feature extraction. As the property valuation process advances, CoreLogic’s application of the latest AI, machine learning, and data modeling technologies will ensure that its customers remain at the forefront of the industry, meeting evolving demands for speed, agility, and precision.
